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GT Voice: US govt, not China, responsible for causing economic crises at home, abroad

Traders work on the floor of the New York Stock Exchange. Photo: AFP

Wall Street’s main indexes fallen steeply on Monday, with the NASDAQ Composite dropping 1.09 percent and the S&P 500 losing 0.39 percent. Meanwhile, the US dollar index, which measures the greenback against six major peers, surged 0.85 percent amid risk-averse sentiment.

There are too many economic factors that can be cited to explain the current volatility in the US financial markets. But very strangely, a Reuters report cited concerns over China’s anti-epidemic measures as the main cause of the US stock market loss.

It is not uncommon for Western media outlets to blame China for various economic problems in the US and other Western countries, but it still seems too far-fetched to attribute the US stock market losses mainly to China’s anti-epidemic measures, especially at a time when the US economy is heading toward a potential recession due to a confluence of…

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