Chinese stimulus plan – defend and spend
Don’t burst the bubble…
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By Alex Lennane
The news from China’s manufacturing sector is good – HSBC’s PMI has made it over the magic number of 50. According to the stats, there has been an increase in export orders. What is slightly mystifying though is where these orders have come from, given the general global misery. And how does a slight rise in manufacturing translate into GDP growth of more than 8%?
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