Gerald Celente: Fears Of A Full-Blown Global Panic Increase
- Gerald Celente: Fears Of A Full-Blown Global Panic Increase
by www.kingworldnews.com
On the heels of continued selling of stocks in China, the top trends forecaster in the world warned King World News that capital is fleeing China as fears of a global market panic increase.
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By Gerald Celente of Trends Research Institute
July 30 – (King World News) – By any measure, the Chinese equity markets are in turmoil. The Shanghai Index, up 150 percent in a year and down some 30 percent since mid-June, was hit hard again Monday, losing another 8.5 percent — its second-biggest fall in its history….
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… we can forecast with certainty the fears of a global market panic extending far beyond the strength or weakness of China’s equity markets.
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As we wrote in last week’s Trend Alert, the world’s second largest economy, “China – in midst of an economic slowdown, an equity market calamity and trying to keep its real estate bubble from bursting – absorbs some 50 percent of copper, iron ore and coal exports. Thus, nations rich in commodity resources, such as Canada, Australia, Brazil, Venezuela, Peru, Russia, Nigeria, Angola, Chile and Indonesia, are in recession or heading into one as demand for their exports declines worldwide.”
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