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wacey
I find it a little annoying frankly. Changing one thing for the better seems to imply changing something else for the worse. It would be nice if there could be economic solutions that benefited everyone involved, but I just don't see how that's possible. For example, I could argue lower oil prices benefits everyone involved because the cost of transporting goods goes down and everything should become cheaper; however this hurts the people that produce and profit from the oil, as well as any economic activity they create with that profit. I suppose the best people can do is to benefit many in favor of a few.
Honestly it seems the only way to truly increase the wealth of a country is to ignore monetary valuations and look at how much is produced and the quality of the production, as well as how easy it is to produce. If you have all three of those, it becomes easier to create and do things in general. Though that can only be certain to work if production is mostly kept inside your own country's economy. China for example produces a lot, but it's low quality and requires a lot of labor, despite it being cheap labor; and they send their goods outside the country so that its citizens do not benefit from them, print money so that any profit they receive from the transaction keeps the Chinese currency from increasing in value, and then reinvests all their profits+printed money back into the US as debt. The Chinese are slaves to their own economic system; yet it's ironic that if the US economy collapsed, they would have an opportunity to invest their production for themselves and increase their standards of living, i.e. actual wealth. Then you have the US which doesn't produce much anymore with the quality of production usually being good, but requiring expensive labor to produce; and it seems content replacing their quality goods with a higher quantity of low quality Chinese goods with a constantly diminishing rate of the US dollar in foreign buying power. That seems like a terrible trade-off, but no one seems to care or maybe no one can really do anything about it.
But this probably isn't much to be concerned about. Stock markets undergo correction when people get too optimistic and overvalue stocks. The Chinese government has been encouraging business growth and investment and now it has probably hit a plateau and people are disillusioned by it. Something psychologically to do with people expecting much more from their investments than they get; so the jerk reaction is to take their money out and do something else with it, even if it means taking a loss. This is the best time to buy because once the pessimism subsides, things can only go up and get optimistic again; consider it a psychological cycle I suppose. I suppose in a lot of ways stock valuations are quite arbitrary in this sense, aside from dividend stocks. But I wouldn't consider this a stock market crash, since the economy isn't failing, as it seems to be stagnating and undergoing a correction.