'Dr Doom' Roubini dismisses 'irrational' response to China crash

Speaking at a world economics summit in Lake Como, the professor said the market quickly moved to extreme pessimism when in reality little had changed. On 'Black Monday' - 24 August - the Shanghai Composite index lost 8.7%, prompting panic selling across the globe as investors feared China's growth slowdown could be worse than expected. However, Roubini dismissed the market's response as "excessive, unreasonable and irrational", according to The Telegraph. "The slowdown in China is neither a hard landing or a soft landing, it's a bumpy landing. It could be better managed but growth...