THE JOHN BATCHELOR SHOW NOW AIRS FROM 9 P TO 1 A, SEVEN DAYS A WEEK, IN NEW YORK AND WASHINGTON, D.C.
Wednesday 1 July 2015 / Hour 1, Block A: Fraser Howie, co-author, Red Capitalism, in re: Chinese economy is at close to 0% - it's deteriorated and the new PMI for June confirms that mfrg is contacting. Shanghai & Shenzen markets: detached from others, a sort of casino - but the last week has been crazy. Official number is 7% growth on an $11 trillion economy, but everywhere you look demand is falling. Tremendous bubble from govt support. When the mkt rises 3%/day for a month, you know a nasty downturn is coming. These markets can fall 5% in an hour.