China’s Government is to Blame for Disappointing Growth. Fourth Quarter Not Likely Better as Power and Regulatory Problems Deepen

<p>China’s economy falters. GDP expanded +4.9% y/y in 3Q21, weaker than consensus of +5% and +7.9% in the prior quarter. From a quarter ago, the economy climbed only an annualized +0.8%. Power shortage, policy change, uncertainty about the pandemic were to blame for the disappointment. Without quick fixes to these constraints, we expect the worst the […]</p>
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