6.6% – this is what the CCP says. But, the world wants to believe the CCP no matter how ridiculous those numbers are. Just imagine China would show us the unvarnished reality. I mean, the reality everyone knows but does not dare to say. Because a huge amount of book values in OECD countries is based on the premise that China still grows. Just imagine this goes away – just imagine the books needed to revert to reality from the fiction they currently carry. Scary? – sure it is. No less real however.
China’s 2018 economic growth fell to a three-decade low, adding to pressure on Beijing to settle a tariff war with Washington.