Never mind Greece, look at China
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoSGMpU-LV9MtQIswGVp0kggS6hG2ytdFZqcisLEHZSqCAR7FKYS_Vp2MMPvU1GQDIc1WOAFoOWiXfFC0TuyS6zCeRfj4zkpt6YLsmnd9iOT-rbLVtH-hFK-m9JmjaBAPhRwNOzLLorg0/s320/China+stock+market+1.jpg)
While all eyes are focused on Greece, there is a potentially far more important crash going on. Via Sober Look comes this pair of charts: China's stock market is crashing. It's very evidently a bubble bursting. The question is, what will be the knock-on effect to the Chinese economy, and indeed to the whole of South East Asia, Brutal sell-offs of this kind are rarely without economic cost, especially when the bubble is debt financed (as this one is). I can't see this ending well. Related reading: China stocks are battered anew - WSJ