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Black Monday: are China’s troubles just beginning?

Western central bankers shouldn't worry unduly about last week's slide, but China has other problems

By George Magnus  

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. © AP Photo/Ahnn Young-joon

In the end, last week’s “Black Monday” was nothing of the sort. The real one in 1987 saw equity markets dive by over 22 per cent, but by last Friday, most markets had steadied or ended up on the week. So…

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