Pablo Soria de Lachica – Predicts Impact of China Crisis on World Economy
MEXICO CITY, MEXICO – Investors should not take the recent crisis of the Chinese economy lightly, says foreign exchange specialist Pablo Soria de Lachica, who predicts that – because of the size of China’s economy – “all countries will feel a definite impact.” After growing rapidly, the Chinese stock market bubble has popped, and nations around the world are starting to feel the decline in one way or another. In addition to the stock market, the country’s economy as a whole has slowed down, a development that has already resulted in lower oil prices, due to the decreased demand from the People’s Republic. Only one year ago, the average price for a barrel of oil was $100. Today, it has shrunken by 55% to $45, and Goldman Sachs estimates that the decline could go down as low as $20 per…