Walter Zimmermann Bearish on China, Gives The Chances for QE3

Earlier, Benzinga spoke to analyst

. Zimmermann addressed the chances of further quantitative easing from the Federal Reserve and the future prospects for China. On QE3, Zimmermann stated that if the Fed decides to engage in more easing, Bernanke is likely to face heavy political push-back from Republicans, who would likely accuse Bernanke of election engineering. Zimmermann also noted the strong correlation between rising gasoline prices and the implementation of quantitative easing. On China, Zimmermann stated that when you look at the technicals, it is extremely hard to be bullish on the Chinese stock market. More broadly speaking, Zimmermann stated that bullishness on China represented an endorsement of more government intervention in the US economy. Overall, Zimmermann was fairly bearish on the global economy, noting that globalization made the problems in one sector of the globe spread to others.