No feasible way for China to grow at around 7% annually for a sustained period
Bryce Coward from Gavekal Capital said this after Wednesday’s Asian data releases “Australian consumer confidence dropped again to around the lowest it’s been since 2009 and South Korea unemployment remained at its cycle highs. No matter what the top line China GDP number was, there is no doubt that China is on a structurally slower growth trajectory and this is most definitely affecting its closest neighbours. Indeed, with fixed asset investment slowing to new lows (3rd chart below) and the debt piles up, there is literally no feasible way for China to continue growing at around 7% annually for a sustained period”. (VIEW LINK)
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