Is this the first time U.S. and European markets have been rattled by Chinas financial markets?
The market had a sell-off about a month ago. And that rattled people a bit here. But it didn’t seem to have the same impact on the Western market. What happened in the Chinese market happened at the same time as Alan Greenspan made some disconcerting comments about the American market, it happened when you have all the loses in the mortgage markets. It came at a time when people were concerned about other things. And symbolically China means a lot.
