Commentary
China released a deflation figure for July but officially insisted there was no deflation and banned any analysts from saying that. The funny thing is seeing a negative number, and nobody dares to say “deflation” but “negative growth of inflation,” thoroughly confirming a complete loss of freedom of speech under dictatorship. Some funnier commentators even invent the definition of deflation as two consecutive quarters of negative numbers. Unlike recession, there is no such consensus in the literature that deflation is defined this way.
