China’s slowdown and deleveraging arrive together
A shrinking debt ratio and a shrinking PMI sound like two different stories. They are not.
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In today’s Daily Dragon: China’s growth engine cools and its debt ratio eases in the same week, two sides of the same story; the EU’s top diplomat is expected in Beijing this autumn for the first time since a bruising Brussels encounter, Tesla weighs splitting off its China business as Musk calls it fake news, Beijing shuts a multibillion-dollar offshore loophole, Trivium reads patience into the Politburo’s fiscal signal, a Microsoft earnings beat reverses the region’s AI-stock rout, and Open…