Mandating top-down economic growth is not enough.
Relentless deterioration meets stunning overcapacity.
It simply doesn’t let up.
But it “shouldn’t lead to an outright crisis,” like the Financial Crisis, “at this point in time.”
Just when you thought it couldn’t get worse…
Bitter reality is setting in.
Global recession watch: the cleanest dirty shirt gets dirtier.
“We could see relatively strong downward pressure” – Chinese government.
Down 45% from where it was during the Financial Crisis!
The fiasco is part of a very hard landing for manufacturing.