Today China reported that their exports dropped 25%.
If any country's exports dropped 25% wouldn't you say that they were in serious trouble? News networks are trying to tell us this is no big deal, why? The news media is trying to put various spins on this news to make it look as if the reason for the drop is because China is moving to a service-oriented economy.But their imports dropped as well and although it was not as significant it was an additional indicator that China isn't doing as well as everybody thinks. China sells to the world, so wouldn't this be an indicator that the world economy is in trouble, serious trouble? Doesn't it seem strange that the stock markets are not taking it as serious news? How much of a train wreck do you have to have before the world markets react? Or should we trust the news media and the governments when they say it's no big deal? Or maybe we should take the color red in the Chinese flag to be an ominous warning of what is to come?