We are so used to runaway economic numbers from China that this week's data dump seems to betoken hard times for the world's second biggest economy. The bears prophesying doom from their caves scent their hour of vindication., However, though one has to be cautious in assessing such a unique animal as the last major state headed by a Communist party, they are almost certainly wrong. Setting aside the short-term negative market reaction, the data is in fact positive rather than negative – so long as the people in charge keep their nerve.
Read Full Article »
