China is slowing down.
The country has been front and center over the last few weeks, with its volatile stock market and its newly devalued currency.
But, importantly, this decline isn't an isolated event.
Since China is such a big player in the global economy, and a major trading partner of many countries, its slowdown will inevitably hit other countries. And HSBC economists point out that commodities are a particularly vulnerable sector in this stagnating climate.
"Given China's role as the world's biggest commodity consumer, any slowdown adversely affects prices significantly. Copper prices are down more than 20% from recent highs, and oil is down roughly 40%," writes HSBC economist James Pomeroy.
Take a look below just how thirsty China is for commodities:
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