Good stuff at European CNBC this morning. The markets had their doubts on China’s conflicting PMIs early this morning, especially after the Eurozone PMI confirmed weakness. Didn’t last long, however, after U.S. ISM manufacturing came in better than expected, boosting the S&P500, which closed at a post-crash high, led, of course, by Apple.
Fenby’s says the PBOC thinks had a great year in 2011 in slowing the economy.
Jonathan Fenby, head of China research at Trusted Sources, told CNBC, “small companies in China are under a lot of pressure there is no doubt, it is access to credit but is also that wages are going up and the minimum wage in China is being increased by 20 percent a year.”
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