Yes, it seems to me that the Chinese Communist Party gave a very big helping hand to the New York Stock Exchange today.  Think about this for a minute:

The Chinese government is also a huge factor here. The government
closely monitors the stock market. A large majority of listed companies
are state-owned. The state also controls the brokerages and the biggest
institutional investors. So naturally, the government has an incentive
to prop up the market, and to prevent steep sell offs.

    And who controls the Chinese government?  The Party of course.  In small, day-to-day business, central party leaders probably are not involved in trying to manage the markets, though thousands upon thousands of party members are involved in the many, many decisions that feed into stock trading.  But when something big happens, and yesterday was very big on the Shanghai exchange, we can be fairly certain that higher level Party leaders intervene in response.  I think that happened yesterday.  I am guessing, of course, since none of us is  privy to such high-level Party matters; but I would bet that some very senior members of the Party in Beijing let it be known to Chinese "institutional investors" that they would be buying on Tuesday.  And buy they did. 

     The effect was clear on the Chinese exchanges:

The benchmark Shanghai Composite
Index, which tracks both A- and B-shares, surged 3.94 percent, or 109
points to closed at 2,881.07 points.

The component index of the smaller
Shenzhen Stock Exchange jumped 3.19 percent, or 248 points, to end at
8,039.70 points. Turnover on the two bourses totaled 136.08 billion
yuan (17.01 billion U.S. dollars).

    While other Asian and European markets were down for a second day, the New York exchanges bounced back up.

     It is fair to say, then, that the Party’s probable intervention likely bolstered the New York comeback.  I know: there are many factors that go into such events.  But had Shanghai and Shenzhen not gone up, there would have been more downward pressure on New York.  I think the CCP saved the NYSE, for Tuesday at least.

     Is there a Taoist angle to this?  Not really, except for a chuckle at the unexpected twists and turns of fate and Way.  I can hear Chuang Tzu laughing.  Who could have imagined thirty years ago that the CCP would be egging on Chinese stock investors in such a manner as to increase the profits of fat-cat New York capitalists?   The Tao works in strange ways, indeed.

     In the end, I think Richard Spencer gets it only half right when he argues that Chinese socialism spooked world stock markets.   The real irony is that Chinese Communists saved the world’s largest stock market!