This is a warning, not just to the Chinese people seeing the politburo admit the economy is evolving the wrong way just with respect to 2015; to say nothing about how many people still cling to the pre-crisis growth dream. US policymakers may be gloating about the US winning the trade war, but they don’t realize this is a eurodollar problem for everyone including the United States.
Nobody wins the eurodollar, largely because nobody knows that’s the game actually being played. China may be first, most exposed to risk, but it won’t be the only one damaged by it. The Chinese already have a lot of company, and, as disruptive as it has been to this point, it appears to be just getting started.