Cracks in China Wall, US limps
China’s factory sector shrank the most in 32 months in November as new orders slumped, a preliminary PMI survey showed, reviving worries that China may be skidding towards an economic hard landing and fuelling global recession fears. The steep fall in the HSBC flash purchasing managers’ index (PMI) to 48 in November from 51 in October underscores Beijing's growing alarm over the health of the global economy and unnerved financial markets already roiled by the euro zone debt crisis.
Read Full Story>>