So, China is slowing down and the world stock markets seems unable to cope with the claimed 6.9% GDP growth – whether this growth is strictly accurate or not, the reality is that you will be hard pressed to find anywhere on the planet coming close to this rate.

So what is going on and are we all doomed?

There seems a common link between the Chinese economy and Apple’s profits – the larger they become, the greater the fear of them failing to keep the trend going. I find this somewhat surprising that there is such a market reaction to either events – its going to happen, and it seems short sighted to assume the world repeats year on year.

The destiny of the Chinese economy is in the hands of people like never before, and the ability of the government to influence growth is restricted to minor devaluation and market reforms – many of which had moderate impact to the recent stock market falls. We forget very quickly that these are the same stock markets that doubled on 7% GDP growth, and the bubble was supported by heavy borrowing. Chinese manufacturers have had an incredible impact on the world and kept consumer and industrial prices low – and with their reduced need for commodities, we now have them to thank again for the commodity price collapse (should it ever be passed on).

Having visited China for 20 years, it is impossible not to be impressed with the progress made and vast improvement in living standards – I can’t see this progress slowing any time soon. I suspect Chinese Maserati salesmen might struggle for a bonus in 2016, but I don’t think that should plunge the world into depression.