October 22, 2008

China Coupling

The flurry of headlines and news reports in major world press highlighting the slowdown of China's economy to "only" 9% refutes the "de-coupling" nonsense about the global economy. We are all linked, China to Europe, Japan, the USA, South America, Australia, Brazil, Chile, ETC., and all concerned experienced a surprisingly sharp fall at the end of the third quarter.

What next? Morgan Stanley says we are in for a "wok" shaped recesssion and to expect only gradual improvement in the forseeable future.

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