Seems like the Chinese growth story is yet more smoke and mirrors, well lots of smoke anyway pardon the pun. They've basically done a USA, in that they've printed trillions of dollars and instead of investing wisely; they put it into the floundering real estate and stock markets. The China is going to bail out the world crowd better wake up. The PBOC can't ease any more due to rising pork prices, things are different to 2011 now. When the Chinese can't afford to eat look out. When these corrupt HK property developers realise that more and more free money is no longer appearing from the mainland, the HK property market can kiss it's ass goodbye.
China Manufacturing PMI At Lowest Since March 2009; Market Response 'Bad Is Good' So Far | ZeroHedge