China’s bubble closer to bursting
Wednesday Jul 11, 2012
The Aussie and Kiwi dollars dropped yesterday and markets fell on news that China’s trade growth decelerated more sharply in June than expected – an indication the slow-down of the world’s second-largest economy deepened despite stimulus efforts.
Import growth fell by half from May’s level to 6.3 per cent, data showed yesterday, reflecting weak Chinese consumer and industrial demand. Export growth declined to 11.3 per cent from May’s 15.3 per cent.
China’s slowing demand for oil, iron ore and other foreign goods is bad news for….”