We know, or at least think we do, that world demand is ‘collapsing’. We’ve seen emerging power currencies fall significantly; equity markets deflate; and governments planning and then announcing fiscal stimulus packages. But assessing the state of the BRICSAM economies is not easy. None is more difficult to gauge than China. It remains a rather daunting task to get a handle on the growth/lack of growth of the Chinese economy.
When I was last in China in December, it was impossible to get a ‘read’ on where growth was; or was going. Could one identify growing domestic demand in China? Was this domestic demand beginning to sop up the ‘over capacity’ Continue reading