Mnuchin Dismisses China Economic Contagion Risk

Reuters reports that U.S. Treasury Secretary Steven Mnuchin dismissed concerns that China’s weakest economic growth since the global financial crisis could spill into other emerging markets. Mnuchin dismissed the possibility this would destabilize U.S. financial markets.
China is trying to navigate through multiple challenges. This after its trade war with the United States sparked a blistering sell-off in domestic stock markets and a steep decline in the yuan versus the dollar. The economic factors have heightened worries about its growth outlook.