Despite trade wars and geopolitics, Chinese economic growth shows resilience. So why is there a deep gap between the third-quarter data and gloomy international headlines?
After the release of third-quarter data, The Wall Street Journal headline sounded a warning: "China's economic growth slowest in decades." CNN seconded: "China's economic growth drops to lowest level since 1992." Reuters extended the timeline: "China's GDP growth grinds to near 30-year low as tariffs hit production."
The fallacy in these headlines is that they mistake business cycles for secular trends and vice versa. When countries industrialize, they enjoy relatively