China’s “crisis” continues…

shanghai

Just a reminder to everyone freaking out about the secondary effects of China’s equity markets: the Shanghai composite was trading much, much lower — even after today’s “crash” — on this day exactly one year ago. China’s having a correction, and that’s clear from the five-year trend.China Flag Icon

The ‘crisis’ here isn’t economic, it’s political. It’s the ineffective response of the ruling Communist Party and, more importantly, the cognizance of over 1 billion Chinese subjects that Xi Jinping isn’t infallible.

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RELATED: China’s stock market crash is a political, not economic, crisis

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