China Posts Slowest Growth in 29 Years But Still Overstated

by Mike ‘Mish’ Shedlock
Mish Talk

China posted another quarter of 6% annualized GDP. That’s the slowest in 29 years.

The Financial Times reports China GDP grows at slowest pace in 29 years

China’s economy last year grew at the lowest rate since 1990 while the country’s birth rate fell to a record low, highlighting the domestic challenges facing Beijing despite a truce in its painful trade war with the US.

Also note that State Grid, China’s power utility, forecasts a dramatic fall in growth by 2025 with a risk of falling to 4%.

Michael Pettis at China Financial Markets has a pertinent series of Tweets, summarized below. Emphasis in Tweet 3 is mine.

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