Steen: Watch China... not the Fed

I do think China will have a hard time living up to the promise of 7%-ish growth this and maybe next year, but... China has a plan… It's the Silk Road. China is likely to see some improvement over the balance of 2015. The aggressive monetary easing will act as the "bridge" to the time when the Silk Road is implemented and the flow of funds from China start coming in earnest. What we need to learn as investors and as observers of macro trends is this: It's far more important what China does with its foreign exchange reserves (USD 3 or 4 trillion) than when and if the Federal Reserve hikes rates.” Full article here: (VIEW LINK)