When China sneezed on 27 February, the whole world caught cold. Within a few hours the Shanghai composite index plunged 8.8 per cent, its biggest one-day fall since February 1997, causing Hong Kong’s markets to shiver. The contagion quickly spread to Japan, Korea, Australia and India. Before the day was out, leading stocks in Europe and then in the United States had joined the sick list.
Disagree with half of it, enjoy reading all of it
TRY 3 MONTHS FOR $5
Our magazine articles are for subscribers only. Start your 3-month trial today for just $5 and subscribe to more than one view
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in