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> A sharp slowdown in Chinese export growth added to evidence that the global economy is slowing, and Chinese import growth slowed by even more adding to evidence of a slowing in domestic demand in China. Whats more Chinas inflation rate cooled further to 6.1% in September, supporting our view that July marked the peak in inflation and adding confidence to expectations for monetary easing ahead. We remain of the view that the Chinese economy will have a soft landing and that it will soon move to support growth by easing monetary conditions, but of course in the early stages soft landings and hard landings look the same. > Slowing exports from the Philippines and a slowdown in Indian industrial production add to evidence that Asian economies are cooling. Consistent with this Indonesia became the latest economy to cut interest rates. While India may remain a laggard, expect more rate cuts across Asia in the months ahead.
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