Yu Yongding, a respected former adviser to the People's Bank of China, made yesterday a very harsh statements against the United States. He said that the dollar was "one step closer" to the crisis, and that devaluation was inevitable in light of such huge debts.
Chinese manufacturers have become stronger. Chinese index PMI, calculated by HSBC and Markit rose to 52.9 this month, up to a maximum of five months. Higher values are achieved the promise of the government this month to expedite the completion of construction projects, including construction of the state as part of stimulus plan.
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