“Saturation” is the new Economic Reality. But this is Worse.
“We could see relatively strong downward pressure” – Chinese government.
In a “downward spiral.”
Down 45% from where it was during the Financial Crisis!
Worried about popular upheaval?
Market turmoil in China presents a significant risk to global energy prices.
Didn’t take long: Frazzled, it tries to stop the worst 2-week crash since 1996.
The fiasco is part of a very hard landing for manufacturing.
“Calling into disrepute the reliability of China’s official data.”
“But nothing is normal in China anymore.”