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As China’s Economy Falters, the Rest of World Looks Resilient
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Chinese history plays out in cycles, or so goes the well-worn cliché. Whether or not that is true, it is undeniable that five years after the last major downturn, the specter of another Chinese property crash—and associated financial turbulence—is once again tormenting global markets.
Some things haven’t changed. Commodity currencies like the Australian dollar and shares of construction equipment makers like Komastu have already sold off sharply. Europe, with its big exposure to Chinese spending
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