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Sobering Reality Resurfaces for China’s Economy in 2nd Quarter

The first-quarter high for the Chinese economy—fuelled by borrowing—has worn thin into the second quarter.
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Sobering Reality Resurfaces for China’s Economy in 2nd Quarter
A woman looks at shoes at a market in Beijing on April 23, 2019. Nicolas Asfouri/AFP/Getty Images
Rahul Vaidyanath
Updated:
The first-quarter high for the Chinese economy—fueled by borrowing—has worn thin in the second quarter. The China Beige Book (CBB) states that the Chinese economy improved in the second quarter “albeit modestly and unsustainably.”
The CBB research service conducted more than 4,000 interviews with firms and bankers on the ground in China to prepare its second-quarter preview. During the past three quarters, CBB data has bested Beijing’s official data in revealing the true picture of the Chinese economy as it struggles in the trade war with the United States. Official purchasing managers’ index (PMI) readings initially clashed with CBB’s numbers but then fell in line with them.
Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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