China's inflation is still soaring despite rate rises, giving cause for concern, says Goldman Sachs' Asset Management's Jim O'Neill.
No doubt influenced by the price of their A-share market, I found myself worrying somewhat about China this week. Before any of you get over excited, this is against the background of me thinking that a "happy slowdown" was in the process of being achieved in China. I entered this year strongly of the opinion Chinese policymakers would be planning for a period of softer overall GDP growth, in which "quality" was more important than "quantity". In this environment, less dependence on exports and investment would go hand in hand with more domestic, private consumption. In addition, I...
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