Why Americans Should Cheer for China

Why Americans Should Cheer for China

Export growth? Nonexistent. Industrial production? On the decline. Bank lending? Less than expected. Sounds familiar. But we're not talking about the U.S. or Europe. China is in the midst of a major economic funk, as Western demand for its goods stalls: A week ago the government's Commerce Ministry said China's trade outlook is worsening, with its rate of investment from foreign businesses in decline. And on Thursday, independent economists used terms such as "ugly" and "plainly awful" to describe a downbeat HSBC report that confirmed continued contraction in the country's huge manufacturing sector.

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