China Is Weakening, And It's Bringing Down Everything Else

China electricREUTERS/China DailyAn employee checks newly-assembled electric cars to be exported to South America at an electric vehicle factory in Zouping county, Shandong province September 24, 2013.

China reported a bunch of ugly economic data over the weekend.

You can read the details here, but everything from industrial production to retail sales to fixed asset investment was weak.

The surprise is not that China is slowing — after all, to some extent China wants to slow down — but that authorities are letting the economy slow as fast as it is. They seem to be showing a lot of willpower not stimulating the economy.

Anyway, anything associated with China is going down.

Oil — which has been weak for three months — is tanking, down over 1%.

Here’s oil:

Screen Shot 2014 09 14 at 8.40.19 PMFinVizOIl has been tanking all summer.

Copper is weak too.

The Aussie Dollar fell, briefly, below 0.90 against the US dollar.

Screen Shot 2014 09 15 at 6.49.59 AMFinVizThe Aussie dollar — which often moves based on China’s economy — has been getting slammed.

The Hong Kong stock market, which is on a 6-day losing streak, lost nearly 1%.

Emerging markets, many of which have their fortunes tied up to China in some way due to trade, are on their largest losing streak since 2012, according to FT.

That’s the story of the moment: Weak China taking down a bunch of other stuff.

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