patrick.net

China cooks the book more than most, but GDP is dubious anyway.

The bottom line on it is that they are suffering from the aftermath of mercantilism.

They have run a positive trade deficit for years which is ok until you can no longer do that because of rising labor cost / revaluing the Yuan. Same deal in Japan.

They and Draghi are going to try their own flavor of QE, but it will not work. Because, as stated in Mish's article, both are net saver countries the US is a net debtor country so lower interest rates help us but not them.