Are markets headed for a perfect storm?: ""The risk of a hard-landing of the Chinese economy is not negligible," the bank said. "The most likely trigger is that Beijing's gradual deleveraging plan gets out of control, which would lead to shadow banking failures, a liquidity crunch and financial market turmoil."
While it believes the drop in China's official manufacturing PMI to a six-month low in January was partly due to the Lunar New Year holiday, "it is getting clearer that the economic slowdown has begun again.""
'via Blog this'
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