Grantham said that a decline in China’s economy would hurt the commodity markets. If a Chinese decline were accompanied by better-than-expected weather globally, then “it will very probably break the commodity markets en masse,” he wrote in the letter.
“If the weather and China syndromes strike together, it will surely produce the second ‘once in a lifetime’ event in three years,” Grantham wrote.
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04/29/2011
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