China: A more balanced recovery 111109 |
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Today’s economic data suggest that China’s recovery is becoming more balanced with private domestic demand and exports substituting public investments as the main growth engines. October data is not as strong as today’s press headlines suggest. Overall domestic demand and imports have slowed and Chinese imports of important commodities declined substantially in October. However, some of this weakness is probably explained by an extended holiday in October and should prove temporary. October
Filed under: Fundamental
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