The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

An employee welds a water turbine at a factory in Jinhua, Zhejiang province May 23, 2013. China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent.
An employee welds a water turbine at a factory in Jinhua, Zhejiang province May 23, 2013. China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent.
(William Hong/Reuters)

Even China bulls are having second thoughts

China is proving that a country growing at a seven per cent per year can still be in deep economic trouble.

Recent data on manufacturing and credit markets have even uber-bulls like former Morgan Stanley Asia chief economist Stephen Roach questioning the sustainability of China’s current growth path.