Ever since China missed its first quarter GDP target, the China bears have come out in full force. They said years of overspending and over construction are finally hitting home, and the economy will be in free fall from this point onward.
The situation on the ground, however, is a bit more nuanced than that. Leland Miller of the China Beige Book (CBB) would know. The independent research organization collects data from thousands of Chinese firms every quarter, providing unique insight into the actual status of the economy.
“We are not seeing this precipitous decline where things get worse quarter after quarter; that’s just not the case,” Miller told Epoch Times, after the release of the report for the second quarter of 2015.
