Not looking good here.
China is known to front load lending into the first half of the year.
So this year could see an exceptionally slow second half.

The two external threats to US well being cited earlier in the year, China and Europe, are looking very problematic.

· China manufacturing slows in May as demand weakens

· China told property risk is worse than in US

· Economist sees bubble in housing market

· China to reform resource and property taxes

· Home sales plummet, frosty year predicted

· Banks running out of lending quota

· Banks suspend trust loans to local govt finances

· Shenzhen to Raise Minimum Wage on July 1 by 10%