S&P Global PMI data, released November 23, showed continued contraction in the US manufacturing sector. The preliminary S&P Global US Manufacturing PMI fell to 47.6 from 50.4 in October, well below expectations of 50. This marks a 30-month low.
Bill Ackman calls deglobalization a long-term structural tend, The Financial Times investigates it as a necessity for future prosperity, and growing contradiction between the US and Chinese business environments underscore its inevitability. Plus: Violence at Apple's main Chinese iPhone-making plant, continued supply chain disruption, and an opportunity for Mexico.