Crouching Dragon

Just four short months after the euphoria of a successful Olympic Games the economic news from China has deteriorated rapidly. The China Rising of a few years ago is being replaced by something different. Growth is now down to 9% from the 10 and 11 percents of not long ago. Most countries would give their eye teeth for that. However it is said anything less than 8 percent means the job market can not provide for the huge peasant exodus to the cities where incomers are in search of a new life, mostly in the industrial complex. The latest statistics claim 70,000 factories have closed up shop in recent months. When the rest of the world sneezes China catches cold. However with its vast reserves gained from its export surplus China is now undertaking a stimulus investment to build more infrastructure. Yep as if there wasn't enough construction already! Apparently though observers see less crains and the housing market has seen values fall 30% recently. Inflation is showing up and currency exchanges are hurting rather than hindering China. The dragon is crouching for the first time in a while.