Mostly it’s: what is going to be the net impact on, not just the Chinese economy – of course it’s a gigantic supply chain feeding into China from the rest of Asia. So that’s important. But of course it’s indirect.
In a breathtaking turn of events, the financial landscape changed dramatically, with the failure or rescue and effective nationalisation of a number of systemically important financial institutions in the United States, the United Kingdom and continental Europe. Share markets slumped, currencies moved abruptly, commodity prices continued their sharp decline and investors’ appetite for risk contracted further.