CNN Fareed Zakaria GPS December 14, 2014 18:33:00
While people worry about europe's slump and its implications, europe is not that significant. by contrast, china, which in 2007 replaced the united states as the largest engine of global growth, is far more important, says sharma. jpmorgan chase attempted to quantify china's global footprint and found a 1 point reduction in china's growth was associated with a 10 point decline in oil prices and, on average, an almost half point, increase in global gdp growth. while it's clear that the chinese economy is in a downturn, joe lupton, a senior global economist at jpmorgan chase, cautions that we sh...