China: No Crisis But A Thorn In Global Growth

At the beginning of the year, most financial market participants were watching China. Specifically, analysts were watching for further signs that China’s policymakers had lost control of the country’s currency and economy, a slipup which could lead to massive capital outflows, a hard landing for the Chinese economy and a devaluation of the yuan, all of which would send shock waves reverberating through the global economy. “Accounting Adjustment” Should Help China’s Growth Recently, concerns about the state of China’s economy have evaporated, thanks in part to policymakers’ actions that seem to be keeping Asia’s largest economy on the straight and…