Professor Wing Woo says it would affect more than just the hi-tech industry and agricultural exports. He spoke Wednesday on Insight with Beth Ruyak.
"It would hit us across the board because it affects the number of students from China, the number of tourists from China and the amounts of real estate investments by Chinese in California," he says.
As the week began, Chinese stocks recorded their biggest slump in eight years in what's been called China's "Black Monday." The plunge triggered stock market jitters throughout the rest of the world.
Woo says if China keeps cutting interest rates, its currency will become cheaper. That means the prices of California products would go up, cutting into purchases by Chinese consumers.
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.
