The latest Purchasing Managers’ Index (PMI) figures out of China should make American economic policy makers and pundits worried. China’s December PMI slipped to 50.1, down from November’s 50.3 figure. This bit of bad news comes at the heels of a recent spate of official figures that indicate China’s economy is slowing down. Chinese manufacturers are in a tight spot between declining global demand and rising local costs. Add to this, the huge amount of private debt as well as massive overbuilding in the local overheating real estate market and one might suspect the ingredients for a ‘perfect storm’ is in the offing.
With over 20 years’ experience in the heart of the investment industry, Ben Myers has become one of the most respected commentators in the financial world. Having worked for global institutions such as HSBC and Bank of Ireland, Ben ran his own successful investment company in the UK before becoming chief analyst at ECMarkets and now YesOption. Ben remains a keen forex and binary options trader and is a regular featured analyst for a number of online news portals including bbc.com, investing.com, and was responsible for YesOption winning the Best Technical Analysis Award 2014 from DailyForex.com.