Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
China Manufacturing Data Show Risk of Deeper Slowdown on Exports: Economy - Bloomberg

China's manufacturing may shrink for a fourth month in February, indicating the world's second- biggest economy remains vulnerable to a deeper slowdown as Europe's crisis caps exports and the housing market cools.

The preliminary 49.7 reading of an index from HSBC Holdings Plc (HSBA) and Markit Economics today compared with a final 48.8 in January. A number below 50 points to a contraction. January and February economic data are distorted by a weeklong holiday.

China is cutting banks' reserve requirements from Feb. 24 to support an economic expansion that Nomura Holdings Inc. estimates may be 7.5 percent this quarter, the least since the global financial crisis.

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Feb 22nd, 2012 at 02:44:05 PM EST
[ Parent ]
Classic case of 'Beggar Thy Neighbor' coming back to bite you in the ass.  China has lots of unmet domestic demand.  That demand cannot be tapped because of Top/Down Industrial Policy impoverishing the workers, keeping their wages artificially low, who create the goods and services (wealth.)

Skepticism is the first step on the road to truth. -- Denis Diderot
by ATinNM on Wed Feb 22nd, 2012 at 05:38:12 PM EST
[ Parent ]
Well, it could be met by a change in that policy, but...

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Feb 23rd, 2012 at 10:49:15 AM EST
[ Parent ]

Display:

Top Diaries

Occasional Series