'China's manufacturing continues to contract, pointing to lower GDP and rising unemployment ahead.'
China June PMI data in more depth - output 52.0 vs 53.3 (May), new order 50.4 vs 51.8, input prices 44.6 vs 45.1, employment 48.7 vs 48.8
'The property bubble in China (as shown on 60 minutes last night) was fuelled by excessive govt spending and investor speculation on ever dodgier credit provided by China's shadow banking system. The recent credit crunch in China forewarns of trouble for the greatest credit bubble in history.'
The world greatest credit bubble, you mean this one?
