True: the 7% cash in their economy happened months ago, starting years ago, but really picking up steam last September. It didn't drop 7% though, neither the stock market nor the Chinese economy.

Drop in Chinext since peak: (4037-2254)/4037 = 44%

Drop in Chinese economy: nobody really knows, because the published numbers are so obviously fake that nobody in their right mind believes them. But, according to the numbers, it fell 15-20%.

Example reference: http://www.wsj.com/articles/chinas-exports-imports-fall-agai...

One might keep in mind that a serious fall in US production has likewise happened, though one might say it's a smaller drop than China (and Europe) are experiencing.

Which to clarify further, their stock market is like 15% of their economy.

China is largely state owned... It's not the same as us markets crashing.