ALBERT EDWARDS: World to import deflation from Asia, Culminating in Market Crash

``In his new note, Edwards says the Chinese currency devaluation is the beginning of a period of serious foreign-exchange weaknesses in Asia. This will force down import prices into the US and EU economies, aggravating a deflationary cycle that hits corporate profits and ending in a Lehman-style crisis... Edwards sees no easy way out of a deflation-led US recession, culminating in a financial-market collapse.''