Posted on 10/02/2012 12:30:13 PM PDT by TigerLikesRooster
Blow for Beijing as manufacturing remains weak
Date October 2, 2012
CHINA'S manufacturing activity has continued to show signs of weakness in September, indicating Beijing's lacklustre effort to boost the economy has so far failed to arrest the slowdown.
Though the official Purchasing Manager's Index rebounded slightly in September to 49.8 after a 49.2 reading in August, it still hovered below the expansion threshold of 50, increasing market speculation that the Chinese economy may grow less than 7.5 per cent this year - the official government target.
August had marked the lowest reading since November 2011, as the world's second-biggest economy struggles against cooling exports, factory output and fixed asset investment.
''The data continues to reinforce the hard landing that we have predicted for China because this is the second consecutive month of a sub-50 reading,'' said Prakash Sakpal of ING in Singapore, which forecasts Chinese economic growth will be close to 7 per cent in both the third and fourth quarters of this year.
(Excerpt) Read more at canberratimes.com.au ...
P!
Chinese company to make computers in Whitsett NC.
(I used to live a few miles from Whitsett and worked in the same Industrial Park as this company. Whitsett is east of Greensboro on I-40.)
The Party assured American corporations that China's 1.4 billion upper-middle-class-income citizens await them with "pockets stuffed full of gold;" the corporations are encouraged to continue sending their FDI, technology, and intellectual property to China. The rewards will be immeasurable. The people thank them. The PLA thanks them.
"Soon," say key Central Committee members.
Five years and counting on the feel-good news of that “hard landing.”
If Chinese exports to the West shrink, BTW, prices on imports to the USA will become more scarce. Prices of those imports will rise in the USA. Sometime during that process, bonds in the USA will go down in an avalanche of selling. Interest rates will skyrocket. For lack of general economic activity and revenues in the USA, the political/regulator class here will be more quickly unemployed/reduced. The same class of government-supported people will react by committing crimes and civil unrest.
This just in:
7% growth and 3% unemployment is raging in China.
Cringing, you've gotta stop believing Communist stats. I mean, you're part way there. You don't believe Obama's.
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