Wage inflation weighing on policy makers' minds: HSBC Bank

In Europe, fresh signs of decline among factories on the eurozone's debt-laden periphery tugged sharply on manufacturing growth across the region as a whole in May. US private employers hired fewer workers than expected in May and manufacturing slowed to its lowest level since 2009, bolstering concerns that the US recovery was running out of steam. Asian markets are trading weak as well. Arjuna Mahendran, Investment Head- Asia at HSBC Bank weighs in on what all of this means for the global economy.