Saturday, 22 September 2012

Alarm rings over China slowdown risk for Gulf - The National

China's stalling economy poses a bigger risk to the prosperity of the GCC than the escalating debt crisis in Europe, economists and the IMF warn.

The alarm came as data released yesterday signalled China's manufacturing sector shrank this month for the 11th month running. Similar data indicated factory production in the euro zone fell deeper into recession territory during the month.

But it is the shaky performance of the world's second-largest economy, rather than the euro-zone turmoil, that could cause more harm to this region.

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