by Greg Guenthner
Daily Reckoning
Remember when a slowing Chinese economy was about to ignite a global recession?
Allow me to refresh your memory. Let’s turn back the clock to last summer…
The Shanghai Composite found itself in the midst of a flat-out crash in June 2015, officially putting an end to a 12-month buying spree. While Chinese shares tanked, analysts predicted the worst was yet to come. Well-known Chinese stocks that trade on U.S. exchanges started falling off a cliff. Investors wanted out at any price.
Now that global markets are in recovery mode, you’ve already figured out that the China slowdown didn’t obliterate world markets. But you probably didn’t notice that these same Chinese shares are now posting powerful breakouts.