6,2% – yeahh right. we had so many reports of cheating with the numbers in China, the stack must be higher than the tallest building in the picture. Any figure published by China must be taken with a shipload of salt. There is speculation if real growth is closer to 3 % but I would argue that there is no more growth in China for quite a while now. Their concrete pouring program has saddled the country with ghost cities and other stuff that nobody needs. What’s worse than an economy that lacks basic subsistence stuff? An economy that produces mountains of things that nobody needs. Capitalistic economies punish those that misread the market signs with losses, restructuring and maybe corporate death. No such policing mechanism exists in China. It just adds to the heap.
China’s second-quarter economic growth likely slowed to its weakest pace in at least 27 years, a Reuters poll showed, as demand at home and abroad weakened amid a bruising trade war with the United States.