China's Exports Plunge -- More Bad News For Commodities?

China’s exports plunged 8.3% in July, far worse than expected, as China gets a taste of the other side of globalization -- whereby a slow down in one area of the world spreads to another, in a vicious cycle of decline. For years, China has been the largest beneficiary of globalization, riding a virtuous cycle of global growth in China’s three largest export markets -- European Union, the US, and Japan. But with the EU floundering in the swamp of stagnation, caused by austerity; with the US b...