Hard landing in China is already happening

Bloomberg reported bleak news from a leading Asian analyst who says there is no doubt that China's economy is already landing hard.

Adrian Mowat, JPMorgan Chase & Co.’s chief Asian and emerging-market strategist, made the comments at a conference in Singapore on Wednesday:

"If you look at the Chinese data, you should stop debating about a hard landing. China is in a hard landing. Car sales are down, cement production is down, steel production is down, construction stocks are down. It’s not a debate anymore, it’s a fact."

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