JPMorgan chief China economist: Latest PMI data will exacerbate concerns over Chinese economy - Shanghai Daily
- Says the poll "biased toward export-oriented small- and medium-sized manufacturers that typically benefit less than large companies from the governments growth stabilization measures... The weak reading is related to the economic rebalancing, but if the adjustment is too sharp, it could become destabilizing... Looking into the future, further fiscal support and monetary easing will lead to a pick-up in infrastructure investment, which will support domestic demand by partially offsetting the weakness in manufacturing and real estate investment."