https://think.ing.com/articles/chinas-data-dump-shows-that-time-is-running-out-to-achieve-this-years-growth-target/
For the past 10 years as a China bear, I have consistently argued that the only way to bridge the gap between consumption and production growth is either through increased investment—which the economy struggles to absorb due to its unprecedented levels of debt-fueled, unproductive investments—or by expanding the trade surplus, which the rest of the world is becoming increasingly unwilling to accommodate.
For the past 10 years as a China bear, I have consistently argued that the only way to bridge the gap between consumption and production growth is either through increased investment—which the economy struggles to absorb due to its unprecedented levels of debt-fueled, unproductive investments—or by expanding the trade surplus, which the rest of the world is becoming increasingly unwilling to accommodate.