China Bourse Dives and Everyone Loses
Can’t resist the temptation: Told you so.
But it wasn’t just China that took a beating, as the WSJ’s Marketbeat points out. Every major market around the world dipped significantly at some point today. No question it demonstrates China’s growing importance to the global economy, both real and symbolic.
The market correction also showed the impact of weakening economic fundamentals in the US and elsewhere (see the drop in durable goods announced today, which didn’t help things). There’s no guarantee markets will rebound strong tomorrow. But if I had been planning to put some money to work in the US or Chinese markets, I would think that now would be as good a time as any to make an entrance. Not for the faint of heart, though.
April 18, 2007 at 10:28 pm
[...] — are ignoring the lesson of February’s correction in the Chinese markets (read post here) and rushing back into the circus. Money is pouring in from all directions, as the FT reports: [...]