China Matters, Again

(1) A widely anticipated recession. (2) The stock market’s prediction. (3) Samuelson, Summers, Levy, and Laing alarmed by China. (4) The weakness in China’s manufacturing sector is old news. (5) The jury is out on China’s transition from goods to services. (6) The big problem in China is capital outflows. (7) Weakening yuan is a problem for other emerging economies, not so much for US.