China Brief: The Truth About Chinese Consumption
Looking back over the past few months since our last China Brief update in April, not much has changed.China’s GDP grew at a steady 5 percent during the first half of the year, while retail sales ticked modestly upward by 3.7 percent during this period. We see few signs that this picture of single-digit growth in consumption will change for the foreseeable future. Indeed, some observers are warning that it…