China’s L-shaped recovery arrives


Those looking to China to rescue anything will be disappointed for a long time.

Economies wrestling with large real estate adjustments are notoriously slow to recover. In China’s case, it is even worse, given the structural nature of the change.

It is, therefore, zero surprise when PMIs “disappoint”. The Chinese economy is going nowhere.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.