Global Economics  Bourse Blowout Shouldn't Brake China  Real
concerns about overheating sparked the record sell-off. But the
mainland's economy is fundamentally sound, and growth looks set
to continue  On Feb. 27 the biggest drop in Chinese stock prices
in well over a decade started in Shanghai and Shenzhen, then
spread like a miasma from Wall Street to Europe and other
bourses in Asia. It didn't much matter that China is still on
track for double-digit growth in 2007—or that the real impact of
the market meltdown elsewhere was primarily psychological. It
still fed into worries in the U.S. that have nothing much to do
with China.  "Some people are calling this a perfect storm,"
says Jing Ulrich, head of China equity markets at JPMorgan (JPM)
in Hong Kong. "There was a confluence of factors all happening
on the same day," she said, referring to the stock market
turmoil in China plus disappointing durable goods data out of
the U.S.  Nor was it a huge shock, to those who follow Chinese
equities, that some sort o