24 Aug Stock Market Turmoil: How China’s Economic Crash Is Affecting Shoe Companies
There’s no end in sight for the global market meltdown stemming from China’s stock market crisis.
The continual downward spiral of China’s stock indexes and the latest crash — the Shanghai Composite slumped 8.5 percent Monday — continues to alarm Wall Street investors, some of whom may have been holding on to hope that China’s economic debacle was an isolated global event.
But “this is not your grandfather’s economy,” said Matt Priest, president of the Footwear Retailers and Distributors of America (FDRA).