China services growth slows sharply, adds to recovery risk
Sentiment: Strong Sell
China is expected to slow to 7.5% GDP in Q2.
The US probably won't break 3%. The sequester and the start of Obama-care may slow the US down going into Q4.
I like defensive stocks like IBM, VZ, T and US REITS.
When times get tough IBM's annuity revenue starts to look relatively good.
Let us not lose sight of 2009 in the wake of Lehman Bros and the Great Recession. IBM pulled it out in 2009 and had a beautiful 2010.
It's the US that needs to pick up.