China devalues yuan for third day running
"The primary reason for weaker Asian currencies has been the one-off devaluation of the Chinese yuan and the subsequent depreciation", said Jason Daw, head of Asia currency strategy at Societe Generale AG in Singapore. However, many find ways to circumvent this, reflected in the fact mainland Chinese citizens are some of the biggest foreign buyers of property in markets like Australia, the United States and Canada.
United States
The panic may weaken demand for U.S. exports. But that could make some goods cheaper for consumers. It’s still unclear what impact China’s falling stock market will have on the real American economy, but the worst will likely be felt in one state: Washington.
China is the United States' third-biggest export market, buying $120.8 billion worth of U.S. products in 2014. Washington state accounts for the biggest chunk, selling $15.3 billion worth of stuff to China last year — largely in the form of airplanes, but also in agricultural products like apples and timber. One of the state's corporate powerhouses, Amazon.com, saw its stock slide 6.14 percent Monday, as investors sold shares in Internet companies on doubts about expansion in China.