How China has changed
Hotly watched Chinese stats say the economy is in trouble but the actions of consumers tell a different story. Everyone is talking about China and the conversation is mostly unsettling. The collapse in iron ore prices, falling oil and coal prices and persistently low metal prices all appear to confirm what official growth statistics have been saying; the Chinese colossus is slowing. For those skeptical about official Chinese GDP data (there is good reason to doubt it), ancillary data tells the same story. Power generation, freight rail movements and credit volumes are all lower. Even smog indicators around the steel belt are falling, suggesting less production. Read full article here: (VIEW LINK)
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