China's figures start to disappoint

With recent data confirming that a slowdown is underway, investors will need to find new reasons for investing in China other than growth.

All the numbers that have come out of China in the past few weeks û whether they relate to GDP growth, corporate earnings, or the health of the manufacturing sector û add up to the same conclusion the Chinese economic machine is slowing. And it is happening faster than most China watchers expected.

The headline figure is GDP growth, which fell in the third quarter of calendar 2008 to 9%, its lowest since since 2003 and a steep decline from...

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