BLOOMBERG: China Manufacturing Gauge Drops as Risks to Growth Target Mount... The Purchasing Managers’ Index was at 51.1 for August, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing, missing the median 51.2 estimate in a Bloomberg News survey and compared with 51.7 in July.... suggesting the economy is losing momentum. A pullback in manufacturing, coming as the property market slumps, adds pressure on the government to boost stimulus.
“Downward pressure on the economy is evident since July,” said Shen Jianguang, chief Asia economist at Mizuho Securities Asia Ltd. “The recovery in the second quarter can be attributed to stimulus measures such as railway investment and social housing construction, so that is not steady.”AS THE WORLD'S HOT-SPOTS DEVOLVE INTO OPEN CONFLICT AND EUROPE DECLINES INTO RECESSION, CHINA - LIKE THE USA, ONLY GROWING BECAUSE ITS CENTRAL BANK IS PRINTING MONEY - WILL COLLAPSE.
AND THIS MAY VERY WELL TRIGGER A CALAMITY THAT WILL MAKE 2007 LOOK LIKE A PICNIC....
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