Yet somehow China is still supposed to be serenely cruising along at 7.5+% growth for now and all eternity.
Hmmmmmm.... Something is rotten in the State of Denmark..... Or whatever the quote is.
Monday, June 3, 2013
China slowdown
Today's numbers show an unexpected trade deficit of $1.6bn for Indonesia, and the HSBC PMI for India is showing a contraction. Ships are queued up off Singapore, and the A$ (traded by many as a proxy for China because of Australia's huge exports of raw materials) is falling as the central bank is forced to cut rates to prop up the economy.
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