the explanation is too long, but essentially the US dollar remains the world's fiat currency, in that many of the booming countries (and many others - European too) have a big chunk of their wealth in US dollar denominated assets, plus it's the Yankee consumer among others who are providing the markets for countries like China to sell their products into.....
so if there's a credit squeeze in the US - still a giant market don't forget - then there will be less money generally to buy imported cheap goods from the China's of the world, which lowers the demand for raw materials - hence Australia because of its resources dependence suffers - so it's a big merry go round..... all markets to some degree are in lock step mode......
that's why it's said when the US sneezes everyone else catches a cold....
ADY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
