It appears that the sell-off has accelerated in Asia with Chinese index's down by as much as 3%.
I have not read through the details, however, the apparent cause seems to be the fear of inflation.
The global economy has not experienced a good bout with inflation for some time. Folks forget how devastating accelerating prices can be to an economy. I remain unsure that several countries in Asia are prepared to be able to deal with inflation.
A global policy of free float currencies will help a great deal in fighting inflation.
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