New data shows China's manufacturing sector has accelerated since June, evidence that the austerity measures are not working, according to ABN Amro. With exports up 36 per cent year to date, China is running the risk of exhausting its economy just as other developed nations slow, resulting in a synchronised economic cooling next year, says chief Asian strategist Eddie Wong. 'We think China missed the opportunity last year to deal with over-investment in a soft way,' he says. 'The bubble may burst next year, triggered by the anticipated global economic slowdown.' The manufacturing boom will help underpin regional markets for another month or two, but he cautions investors not to be fooled by the 'sucker's rally'. China's super-heated growth will probably sustain demand for iron ore, copper and other base metals, even while the economies of her trade partners begin to slow. 'We prefer commodity stocks to tech stocks on a one-to-three month view, as the former rely more on Chinese demand and the later on global demand,' he says. He also prefers Australia's mining over mainland basic material producers. A statistical report on producer data shows that factory orders have increased while exports are slowing. Mr Wong believes the fall in exports is an early warning of slowing global demand.