While Western Economists and officials keep telling themselves that a second half rebound due to underlying global economic strength will materialize any minute now, the Chinese data pretty much puts an end to the nonsense – just as it did to the globally synchronized growth nonsense back in 2017 (if only anyone had been truly paying attention to either what Xi was really doing back then or at least the Chinese data that explained why he was doing what he was doing)……incredible three of the last four months below 5.
Five years ago, anything less than 8% was thought impossibly recessionary – exactly the motivation behind Li’s losing gamble.
The
