The focus,perhaps,should be more on the job market in China,said Donna Kwok,Greater China Economist at HSBC Global Research.Domestic consumption and social stability could be hurt by it.
We think the downturn in China is driven by one thing:external demand,given the downturn in Europe and sluggish growth in the US.We continue to see incremental steps to liberalisation in the next few years.Redistribution of workers is more important to domestic demand in China than absolute numbers of workers.
Mark Konyn,CEO of Cathay Canning Asset Management,notes that in Europe,we're starting to see contraction across the continent,and that's worrying.That could get worse.Spain hasn't been able to work its way through the regional problems.
I think there'll be more asset purchasing.Markets are positioning for more stimulus.We're expecting to see more growth in the second half of the year.I would argue it's more cyclical than waiting for stimulus in China.
In the Middle East,shock waves continue to ripple through the region from the deadly rocket attack on the US Consulate in Benghazi,Libya.Senator John McCain,R-Arizona,said I see it as a newly-elected government that is having the growing pains that any government would have.There are weapons everywhere in Libya, and there are jihadists that have come into the country and continue to come on.These are very dangerous people trying to hijack the revolution.
The attack was done by people who were obviously Muslim extremists.We all should be worried about al-Qaida.The best way to help Libya is to help them train their army and with their intelligence capability.I'm confident we can do that.I cannot be more proud of Ambassador Chris Stevens,the senator had emotionally said of his friend,US Ambassador J.Christopher Stevens,who with three colleagues was killed Tuesday in the organised Benghazi assault by perhaps two dozen militants on the eleventh anniversary of 9-11.
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