China Beige Book International
In brief, the report says that wile the economy in China in the first quarter held steady, the momentum imparted by government spending, stimulus, low-cost funding may be difficult to sustain
- Real estate and commodities increasingly wobbly & adding to high debt-levels
- Policy focus has held back China's goal of shifting to consumption, services and high-tech industries
- Best performers, biggest beneficiaries have been state industrial firms, not private companies
- "China's doing everything in its power to keep growth up. But that's meant backtracking on rebalancing the economy"
- "When they finally decide to do it, it's going to be even more painful"
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China Beige Book adapts methodology used by the U.S. Federal Reserve's "Beige Book"
It's a privately produced quarterly report
Uses quantitative & qualitative data to track conditions within the Chinese economy
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The Beige Book is only available to subscribers to their service, but the Wall Street Journal have apiece up on the report, if you can access that;
China's Economy Holds Steady in First Quarter, But Wobbly Signs Emerge, Survey Finds
China Beige Book says stimulus-fueled momentum may be tough to sustain
