China's Growing Pains Give The Fed A Reason To Wait On Rate Hikes

The global investor cannot afford to ignore what's happening in China. The world's second largest economy, or first depending on whom you talk to, has a massive impact on global dynamics and asset prices. This week's market action has been a rude awakening for anyone who, up to this point, has paid scant attention to China. The market had become so accustomed to double-digit growth that 7% is now a major problem.