Despite the bad times in China that are rocking markets around the world, the UK FTSE 100 share index is currently up 2.11%. It seems like it wants to recover lost ground but is being held back.
My own view is that what is happening in China is deadly serious and we are heading for another huge
crash that, especially for the average Chinese, will make the Wall
Street Crash of 1929 seem tame. This could result in revolution in China
and real turmoil over there. We will not come out of this unscathed.
The world is just shutting its eyes and pretending it is "business as
usual". It is not!
The age of low cost imports from China is gradually
ending and the world has to adjust. No doubt sweat shops in other poorer
countries will replace China, but personally I hope it means more real
manufacturing in the EU and USA. At the moment almost everything you buy
is "made in China".