Asia - China finds it is not immune

What a difference a year makes! A year ago, the China growth miracle was plain to see. The Shanghai stockmarket was around the 6000 level; fixed asset investment was modernising infrastructure at an incredible rate; and property prices were rising, fuelled by low interest rates and urbanisation. Fast forward to today, and we see a quite different China. The Shanghai stockmarket has fallen almost 70%; property transactions in the major cities of Beijing, Shanghai and Guangzhou are down between 29% and 50%; and the growth rate of exports has halved to a high single-digit rate. The world, Ch...