The Global Recession Risk in China

There was suddenly huge outflows. Nervousness that their money will be confiscated could be, I think, one contributing factor. Some people say it's more a function of China liberalizing because they actually want to give more opportunities for investors. By the end of 2015, the shift in Chinese behavior had done to commodity prices and what that in turn had done to credit conditions. A whole lot of things happening all at once.