China Near Recession in Rate-Cut ‘Panic,’ Asianomics Says – Bloomberg 06-08-12

Predictions:

Asianomics Ltd. said China’s surprise first interest rate cut since 2008 and loosened financial controls are a sign of panic, will fail to boost the Chinese economy, which is close to recession, that the world is headed for recession. Chinese banks need to raise lending rates because their cost of funds is going up.

Read the full article at http://www.bloomberg.com/news/2012-06-08/china-near-recession-in-rate-cut-panic-asianomics-says.html