China Economy

A chastened Bloomberg has turned on its master: Ever since President Xi Jinping sought to draw a line under China’s slowdown last month, investors have clamored for him to back up monetary easing with a powerful fiscal stimulus to help fuel one of the nation’s biggest stock rallies in years.

No surprise here.

A sober report from Barclays with excellent detail.

China’s number one media fanboy has dug up a obscure economist to keep the party going.

Bloomie is doing its best for Beijing.

Very, very early days but some data from Goldman.

These were from yesterday. In its regular meeting today (29 September) chaired by Premier Li Qiang, the State Council focused on the implementation of “launching a basket of incremental easing measures” (“研究部署一揽子增量政策的落实工作”), and reiterated the pledge to “strive for the full-year growth targets”, echoing President Xi’s call in the SeptemberPolitburo meeting.

Let’s try and unpack the terrible reporting of Bloomberg on the new China yawnulus: China’s top leaders ramped up efforts to revive growth with pledges to support fiscal spending and stabilize the beleaguered property sector, giving new momentum to stimulus measures aimed at arresting a slowdown in the world’s second-largest economy.

Goldman with more hosing off of the Chinese shrinkulus.

Poor old Bloomberg has no idea about China: China’s central bank has announced a sweep of support for the economy, as pressure mounts on authorities to unleash stimulus and hit this year’s growth target of around 5%.

I still don’t see China doing much.

China wants to be Germany, not the US.

China fanboi, Ray Dalio, is abandoning the joint: The notion that these “real issues” have emerged in the last four years is silly.

A few more charts on Chinese credit.

The Chinese economy is sinking faster and Bloomberg has become desperate: China’s economy lost momentum in August as activity cooled across the board, pointing to mounting risks to achieving the government’s annual growth target.

The FT has a great piece today on what Xi Jinping thought is doing to China: “China used to be the best VC destination in the world after the US,” says one Beijing-based executive, referring to the business of private investment in high-risk start-up companies.

Why the mainstream needs to lie to itself about everything is some PhD investigation into the human condition that I do not have time for.

Sales sinking to the bottom: Year to date below all forecasts: Inventory whoa!

Stability leads to instability is China’s problem.

Goldman on the Caixin PMI.

Some have been determined to go down with the ship.