News Snapshot:
Concern has intensified in recent weeks after the Chinese economy retreated into deflation, fuelling fears over soft consumption, a weakening currency, a shaky property sector and unsustainable levels of local government debt. In a sign that slowing global demand is further dragging on the Chinese economy, the country’s manufacturing sector contracted for a fifth straight month in August, official data showed on Thursday. “To borrow an old adage, when China sneezes, Asia catches a cold,” said Vincent Tsui, an analyst with Beijing research group Gavekal. “With Chinese policymakers resisting calls to boost flagging growth through stimulus, the fallout will be...
