Business
The real state of China’s economy remains a mystery – Sydney Morning Herald
It’s getting harder to say what the true state of the Chinese economy is as it deals with the pandemic and severe flooding. The numbers are all over the place.
All this points to the recovery starting to lose steam. Though China was first in and (sort of) first out of COVID-19, consumers aren’t jumping on the bandwagon. Part of the problem is that the outbreak came on top of already sagging demand that Beijing was struggling to revive. Manufacturers and industrial firms were facing a crisis of confidence, balance sheets were constrained and a boost to direct financing wasn’t trickling through.
Now, the floods have come. Sure, the meiyu front is a seas…
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