As stock markets continue their slide into negative territory, economists debate whether the problems lie in monetary mismanagement by the US Federal Reserve or with China’s domestic concerns “exporting pain” to others via its yuan devaluation.
Speaking to RT, economist Peter Schiff of Euro Pacific Capital Inc. said that there is a lot of “scapegoating” surrounding China and the yuan’s devaluation when it comes to the recent downward fortunes of global stock markets, but that the Federal Reserve is the more responsible culprit when it comes to any instability in the American economy.
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