These statistics have nothing to do with the daily manic-depressive moods of western stock markets. This contraction is over a three month period, and the contractions are in the real economy. Fixed assets investments fell 16% and infrastructural spending is down 20%. If this is what is happening in the most expanding economic system in the world, it will only be worse for the west, where profits are much less invested in the real economy.
Read in WSWS
