The Chinese equity markets have continued to diverge from U.S. markets and U.S markets have continued to ignore the action in what I believe has become an important leading indicator of global economic growth. ISI Group’s Head of China Research, Don Straszheim, believes China is at risk of a substantial second half slow-down. The Chinese equity markets are clearly worried as well as the 10% rebound seen in other global markets failed to materialize in China over the last few weeks.
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