Global crisis moves East as China suffers rapid do
Sept 4, 2012 6:19:31 GMT -5
Post by popcorn on Sept 4, 2012 6:19:31 GMT -5
Global crisis moves East as China suffers rapid downturn 
China’s industrial output is contracting at the fastest pace since the depths of the global financial crisis, with knock-on effects spreading across the Far East.
It just keeps getting worse,” said Alistair Thornton and Xianfang Ren from IHS Global Insight. “The government has underestimated the pace of the slowdown and is behind the curve.”
The HSBC/Markit manufacturing index for China fell to 47.6 in August, the lowest since the onset of Great Recession in late 2008. Inventories are rising. The index for new export orders fell to the lowest since March 2009. “Beijing must step up policy easing to stabilise growth,” said Hongbin Qu from HSBC.
read more:
www.telegraph.co.uk/finance/economics/9518859/Global-crisis-moves-East-as-China-suffers-rapid-downturn.html
China’s industrial output is contracting at the fastest pace since the depths of the global financial crisis, with knock-on effects spreading across the Far East.
It just keeps getting worse,” said Alistair Thornton and Xianfang Ren from IHS Global Insight. “The government has underestimated the pace of the slowdown and is behind the curve.”
The HSBC/Markit manufacturing index for China fell to 47.6 in August, the lowest since the onset of Great Recession in late 2008. Inventories are rising. The index for new export orders fell to the lowest since March 2009. “Beijing must step up policy easing to stabilise growth,” said Hongbin Qu from HSBC.
read more:
www.telegraph.co.uk/finance/economics/9518859/Global-crisis-moves-East-as-China-suffers-rapid-downturn.html