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Unexpected Slowdown

Similarly, CNBC reports China says its economy grew 6% in the third quarter, slower than expected

Worse Than It Looks

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Funding Non-Productive Activity

Pettis objects to China's GDP numbers based on "non-productive activity".

By that measure, what about the US dropping bombs, fighting wars all over the word, keeping troops in Germany and Japan, and overpayment of government employees and their bloated pensions?

And that's just for starters.

Mike "Mish" Shedlock