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LATEST INSIGHTS

China’s Recovery Lacks Consumer Demand
Leland Miller on why China’s economic recovery is not so healthy.

@ChinaBeigeBook

And while some degree of tweaking isn't new, the Q1-Q3 FAI revision is enormous—multiple trillions of yuan. It enables wholesale manipulation, if you think #China might possibly do such a thing.

4/

But we acknowledge presenting an index, while NBS claims its ever-shifting sample tracks *actual changes in volumes*. We just have to take on faith that there is a coherent, invisible set of revised numbers, w/breakdowns by sector, firm ownership, etc.

3/

Some long twitter threads today (plus back-&-forth w/other #China watchers) on Q3 official statistics, partic on whether drastic revisions to the govt's new #FAI results should be disqualifying.

Read up (there are several diff threads) & let us know what you think... https://twitter.com/ChinaBeigeBook/status/1318617149838163968

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China Beige Book provides institutional investors and corporate decision-makers with market leading insights derived directly from our nationwide proprietary data on the Chinese economy.

Trump approves TikTok deal with Oracle, WalMart

Leland Miller calls the new TikTok deal “icky” and thinks giving Oracle a stake in the business is a dicey proposition.