Article Image

IPFS News Link • China

China's Ugly GDP Report--Coping And Denial

• davidstockmanscontracorner.com

Industrial production was back below 6%, estimated at just 5.9% and once more denying all those that claimed November's slight uptick was the start of renewal. Retail sales disappointed at 11.1%, down from 11.2% in November (no difference) while Fixed Asset Investment for the year was just 10%. There is nothing positive about any of these numbers because they signal, inarguably, that the same trend in place for four years now is still the dominant baseline.

That point is remarkably clear, but no matter. Economists, in particular, have already started explaining why what you can plainly see of China's economy isn't. This comes about after having said, year after year, that there was no danger of a slowdown in the first place. Now, however, with China's industry an admitted mess such is a good and positive factor. China is, supposedly, becoming a modern consumer economy, so, by extension, industry suddenly doesn't matter as much.


ppmsilvercosmetics.com/ERNEST/