China's sputtering engine: August 2010
China's massive economic engine is slowing, but it's too early to know just how much.
Writer, The PaperEconomy Blog
'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
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China’s leading economic indicator has now declined for eight consecutive months with the latest August period showing a notable month-to-month decline of 0.21% bringing the latest level 0.69% below the level seen in August 2009.
Looking at past recessionary periods, it’s important to note that while China’s economy is clearly slowing, it will take some time to determine the severity.
We may be seeing the beginnings of an abrupt pullback of equal and opposite force to that of the government sponsored propping applied during 2009 or simply a slowing of a more durable overall recovery as was seen during the periods following the 1990s and early 2000s recessionary periods.
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