“You might think you’re insulated from the turmoil if you don’t own investments like China-equity based ETFs. But the reality is that the speed of the decline and surge in volatility has spooked investors in a wide range of China ‘proxies.’ Think metals like copper and the companies that produce them, commodity currencies like the Australian and New Zealand dollars, and other ETFs that own foreign stocks in Asia and South America.  So what’s next? Well, many of those markets have already been beaten down to dirt-cheap levels. They reflect a heck of a lot of pessimism, and arguably could be the value trades of the decade once the panic subsides.”

http://www.moneyandmarkets.com/watch-greece-dont-ignore-china-72085

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