Should global investors be worrying more about China?

Growing evidence that China’s economy is slowing has triggered falls in domestic equity and global commodity markets this week but there has been no repeat of the broad global sell-off that accompanied worries about China in the recent past. This is a reasonable response: China’s growth may have peaked but it isn’t slumping. What’s more, the sorts of events in China that triggered previous global sell-offs seem unlikely to materialise.