Main global consequences of China’s slowdown?

  • Depresses global commodity prices (i.e. China is a huge consumer of global commodities).
  • Which results in big swings of emerging market currencies (i.e. countries which export to China).
  • Which in turn makes it more difficult for the US Fed to raise interest rates (as it might provoke unwanted volatility in global markets, as investors leave emerging markets to seek higher and more stable returns in the US).
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