As this chart from Waverly Advisors shows, it’s Europe that’s ‘s the ever-larger and growing percentage of China’s export economy.
So since the Greek crisis is hammering the euro, it’s in tern hammering Chinese exporters getting paid in euros, who are already known for their razor thin margins.
Ah, globalization. Maybe this has something to do with Shanghai’s weakness of late.
Photo: Waverly Advisors
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