Markets are overly focused on China

GDP today will heighten the focus

Everyone is scared about what they don't know about China. The data can't be trusted and it's an opaque country and the second largest economy in the world.

I believe the market is too focused on the United States and China and not appreciating the risks and consequences of a commodity collapse.

What adds to the focus on China is how the stock market there has sunk this year. The Shanghai Composite is down 17% year-to-date. That might overstate just how bad it's been. Going back a full calendar year, China is down just 6.5%, which is one of the better performances, beating the S&P 500 (-6.89%) and Brazil (-22.2%).

What if this is just a correction in an overvalued Chinese market that's coming at the same time as a commodity collapse and everyone is equating correlation with causation?