FOR most countries, delivering resilient growth when investors had expected an abrupt slowdown would be impressive. China is different. The announcement that its economy grew 6.9% in the third quarter, just below the second quarter’s 7% pace, is more grist for the already-brimming mill of scepticism about its data. Such are the doubts about Chinese figures that it is difficult to write a straightforward analysis of them without riddling it with caveats about what is and is not credible. So it is sensible to look at the latest numbers in two parts: what the government reported and what ought to be believed.
The official data are indeed impressive, not least because they cover a quarter during which concerns about China's economy were so widespread. July began with the Continue reading
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