Between Ben and Beijing

After Fed chairman Ben Bernanke delivered his big threat of scaling down the Fed’s $85 billion monthly bond purchases, world markets are reeling under another shocker, of Chinese growth taking yet another hit. China’s economy grew at its slowest in 13 years in 2012 and the fear is, based on current indications, that it could slow even more this year—while the IMF has pencilled in an 8% growth for this year, analysts are looking at a figure of 7-7.2%. June’s PMI fell to 47.1 which, apart from signalling the economy continues to contract, is the lowest reading in the last 10 months.

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