Letter: China's economy, relevant or not?
A trader works on the floor of the New York Stock Exchange during the afternoon of Aug. 26, 2015 on Wall Street. Credit: Getty Images / Andrew Burton
In "Why stocks stumbled" [News, Aug. 24], a cause of the recent stock market problems is China. How can this be, when our Treasury secretary recently told us that could not happen?
At the Brookings Institution in July, Treasury Secretary Jack Lew said that our stock market is immune from weakening markets in China.
Lew said, "I will say that China's markets still are pretty much separated from world markets. They're, obviously, moving toward being more integrated, but right now they're not. So you're not going to, I don't think, see the direct linkage there."
Why is it that this story didn't point out how wrong the administration was?
Terence Kane, Long Beach
