China
The slowdown in China is neither a hard landing or a soft landing, it's a bumpy landing. It could be better managed but growth is not likely to be worse than 6.5% this year and 6% next year.China is not in free fall.
US Fed rate hike
The US Federal Reserve should wait and see if it is a temporary storm, and not a gathering storm.It may have to wait until May 2016 to raise rates, and the Bank of England may have to wait until the spring of next year.
