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China manufacturing slump drags on


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The GLOBAL economic downturn continues.

http://money.cnn.com/2012/09/30/news/economy/china-pmi/index.html?iid=HP_River

The Chinese government said Monday that its official manufacturing index hit 49.8 in September, up from 49.2 in August. Any reading below 50 indicates that factory activity is shrinking rather than growing.

On Saturday, a closely-followed report by bank HSBC (HBC) said that new export orders declined last month at their sharpest rate in three-and-a-half years due to weaker international demand.

The fate of manufacturing in China is considered a barometer of the global economy because of the country's role as a powerhouse exporter.

They will have to see portions of the rest of the world do better - either US or Europe - before they will be expanding again. Their fate is connected to the rest of the worlds. It is in their interests to see the world come out of the slump it is in.

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