Decent Economic Data Crushing China Short Sellers - Forbes: "China’s Purchasing Managers Index remained unchanged in December, which isn’t exactly a cause for wild celebration. December PMI held steady at 50.6. Expectations were for PMI to come in over 51. But, not too long ago, as in mid-summer here in the U.S., word on the street was that China was basically the next Europe. Banks were a disaster, the housing bubble is out of control and the domestic economy will never make up for losses in the export markets.
Yet, China is a different place. This is a command and control economy. Economic problems often get swept under the rug. Unpayable debt gets forgiven, or extended to infinity.
And while the government is indeed clamping down on the housing market still, the manufacturing economy is holding steady."
'via Blog this'