The HSBC preliminary PMI figure for China in February was 49.7. It is the fourth month in the contraction level. Economists take it as another sign that a recession weary world has lost much of its appetite for the nation’s exports.
What is not known is whether the Chinese middle class consumer has pulled back because of his fear that the economy in his own country has slow. If that is the case China faces the dual problems of exports and internal consumer demand
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