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China was supposed to see a strong rebound from the pandemic. Instead it's facing deflation, massive debt, and a wobbling housing market.
China's falling prices are unlikely to have a significant impact here, given rising trade barriers and the composition of U.S. CPI.
China’s exports fell 14.5% in July. The country's trade data is a barometer for consumer spending around the world.
The sovereign-debt restructuring also bodes well for private holders of developing-market debt.
U.S. Treasury Secretary Janet Yellen recently visited China and met with senior Chinese economic and political officials. Mark Sobel, U.S. chairman of the Official Monetary and Financial Institutions Forum, reflects on her trip, and says U.S.-China dialogue on economic and other global issues is imperative. “I believe that if the world’s two largest economies … aren’t talking,” Sobel says, “whether they agree or not, that’s a very bad thing for themselves and the world.”