Whether investors were sat at their desks, glued to screens or away on holiday, it was hard to avoid the wild gyrations of financial markets over the week beginning Monday 24 August (see At Times Like These – Inclement Weather). Concerns over China were at the epicentre of this volatility, with doomsayers suggesting this was the week the world had changed. Whether this sentiment proves correct, only time will tell and no amount of crystal ball gazing is going to help us answer the many questions this poses. What we are certain of is that trying to understand China through the eyes of a ‘Western’ lens is flawed and the events at a Ping Pong tournament, hosted by Japan in April 1971, help illustrate this.
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