Is Global Capitalism Currently Unstable?

Recent trouble in Big China is making everybody pretty jittery:

The market turmoil in China spread around the world, as global investors grew more anxious about the country’s currency and the health of its economy.

Chinese stocks plunged on Thursday, by more than 7 percent, forcing officials for the second time this week to halt trading for the day — in this case, after just 29 minutes.

Krugman warned the Fed not to raise rates: Discuss and deride.

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