By John Foley
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
The broad effects of the selloff in Shanghai are beginning to spread. Notably, during the U.S. session on Monday was when China's regulatory authority said the state would continue to support the equity market, the ultimate in treating a symptom rather than a problem. Whatever happens to the equity market, a steady diet of share-buying by the state isn't likely to be able to stem the losses.
The author is a Reuters Breakingviews columnist. The opinions here are his own.
China left the cloistered safety of its dollar peg exactly ten years ago, on July 21, 2005. It was a major step on the journey toward global economic preeminence, and a clear endorsement of market forces. That was then.