News: US software developer Amber Road has announced its purchase of Chinese trade management services company EasyCargo . The US firm hopes its acquisition will enable it to boost its presence in China, while benefitting its existing clients with operations in the country, the Journal of Commerce reports. EasyCargo ' s employees will enhance Amber Road ' s knowledge of the Chinese market, or join the company ' s engineering, development of customer service divisions.
BMI View: China's economy appears to be finally buckling under the weight of its credit binge. Despite record new credit issuance in recent months, the manufacturing sector has once again entered contraction in line with our view. Efforts to reform and rebalance are too little too late to avoid the hangover effects of past stimulus measures, and we believe that a recession is at hand, with negative knock-on effects for the freight transport sector.