Daily News | Caixin/Markit survey turns out bad for China

If China is the economy you have put your faith in, it might be the time for some changes in your perspective. According to the latest data that was brought by Caixin/Markit survey, it seems that China is in serious trouble. The troublemakers are Chinese smaller companies that are continuing to struggle. Large companies owned by the state, on the other hand, still have some benefits from a construction boom led by the government. But even those companies, according to many analysts, won’t be able to keep it up much longer. In the last couple of years China has maintained high growth in high value-added services such as finance and technology and they were trying to reduce the dependence on heavy industry. Although China is in serious trouble, things may not be as bad as Caixin/Markit survey implies after all. Some analysts, for example Julian Evans-Pritchard, said it was too early to tell and that we shouldn’t jump to conclusions.

Second important news has to do with the dollar. The dollar index is at its highest level since late June, but there also some bad news as well. The first fall in American employment in seven years has happened, but this can be explained as the consequence of the recent hurricanes.

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Author: Max Rothstein

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