Chinese shares are falling, but the real fear is that the economy itself is slowing

Disastrous losses on the Shanghai exchange are leading to concern that the era of runaway Chinese growth is faltering at a critical time in the world economy Recent events in Shanghai's stock markets have been all too reminiscent of the tales that have entered American folk memory from the days of the Wall Street crash in 1929: of stock-tipping shoeshine boys, exhausted traders, and ticker-tape machines spooling late into the night. In China, the Shanghai Composite Index lost more than 8% of its...