China’s economy is suffering as crisis in the developed economies begins to have a “knock-on effect” on the emerging markets, said Jonathan Whitehead, the global head of commodities markets at Societe Generale SA. (GLE)
“Clearly, China is suffering,” Whitehead told a conference in London today. “To what extent, we don’t know.”
While outlook for commodities markets used to be defined by China’s economic growth, it now also largely depends on the developments in Europe, he said.
European banks’ access to dollar funding has improved from last year and lending is “recovering,” Whitehead said.
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