, Columnist
The Madoff Look Is the Least of China Worries
The economy’s suspiciously strong growth is understated if anything. Deleveraging is the real concern.
Watch out when the money dries up.
Photographer: JOHANNES EISELE/AFP/Getty Images
This article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
It has become one of the iron laws of economics, a constant on which we can all rely. Whatever happens, China’s gross domestic product will always rise at an annual rate of 6%.