Responses continue to the lacklustre Chinese data released Tuesday:
The via analysts at Macquarie:
China’s reopening recovery appears to be faltering, which “has broader implications for the global economy”
- “People have doubts about the sustainability of the U.S.’s recovery and fear that the U.S. could go into a recession. There are also doubts about Europe, albeit to a lesser extent. So people were still hoping China could carry the torch for the global recovery, and help mitigate the extent of any global downturn”
But now
- “people may fear that every major center of the global economy is set to slowdown and any global downturn may be more pronounced”
- “a complex of worries around China’s recovery has gripped traders in recent days”
Optimism on recovery has clearly faded in China. The negative turn in sentiment toward China
- “is also undercutting the view that economic performance outside the U.S. will stay more robust than inside the U.S.”
