Today on Simon Says we discuss China. Obviously with the currency devaluation and the changes in the stock market, its something people are keen to know more about.
Once heralded as the economy that was going to knock America off its top spot, China is now stuck in the so-called middle income trap.
The first part of growth they experienced was typically to do with mobilizing massively cheap labor to provide manufactured goods to the global economy. That theory is over no
Simon Littlewood, president at business advisory firm ACG Global told the BBC there were concerns that the world's second biggest economy was "a one-trick pony as they have been trying repeatedly over the past few months to put more liquidity into their economy", yet so far have failed to calm markets. Over the past week, China's benchmark Shanghai Composite fell 12%, adding up to a 30% drop since the middle of June. The sharp fall sparked a global sell-off, with the Dow Jone