RE:GREAT EXPLANATION ON THE CHINA CURRENCY DROP!Just as slowing growth in China has brought collapsing resource prices next up China's slowdown will hit the global manufacturing sector as it is forced to continually devalue its currency.
Given the world has more debt now than in '08 collapsing resource and manufacturing revenues will lead to a global economic crisis as China exports its deflation.
Given that governments have already spent their fiscal and monitary policy there will be no cusion for the next downturn. Governments are already up to the neck in debt and have already lowered interest rates to zero.