I guess harmonized is like core in the rest of the world. These fluctuations are quite major. Some heading up and others down. Also, Italy's normal against harmonized is weird with such a differing disparity.
China's MoM inflation has surged. This at a time when they have been dropping interest rates to stimulate the economy. Hmmmm... Dropping interest rates and inflation rising... that can't happen!!! *s*
China has been promoting their massive vehicle sales. Videos coming out showing large dumping grounds of new cars a few months ago highlights that it's all an illusion. There is no Chinese revival. Without China, the world will collapse under the weight of inflation and low output. Nothing like a recession to dampen spending habits to offset this situation.
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