Brad Setser believes that unless China rapidly revalues its currency, it will face increased pressures on its domestic economy - with over-investment (now approaching 50% of GDP) eventually collapsing, putting pressure on the banking system.

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Mr Getty walked back into Mains Road before collapsing, with Mr Kelbie trying to put pressure on his wounds as an ambulance rushed to the scene.

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The effort was futile: the monetary pressure wasn't eased, and collapsing trade only added to the plight of industry.

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This puts additional pressure on China to increase its exports, but that is not possible in a world of collapsing demand, both in developed and developing nations.

FORBES: New Asia