Worries about a slowing in China’s GDP and the impact it will have on the earnings of big companies based there have begun to hammer the stock market. The Shanghai Composite suddenly fell 2.7% overnight. That is equivalent to a 350 point drop in the DJIA. Chinese investors have every right to be concerned. The nation’s PMI has shown industry contraction in several of the past few months. Property values have begun to fall in most cities. The cost of labor in the People’s Republic has encouraged some manufactures to look elsewhere for locations of new facilities.
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