True portrait of China’s slowdown is alarming

The Asian giant’s drop in economic growth might suit the US, but it’s likely to be bad news for Germany – and others

The latest data indicates that Chinese economic growth is rapidly slowing. Industrial production growth rates for August plunged, as did retail sales and property investment. Although all three activity measures still register growth in absolute terms, the pace of decline is worrying.

This development is not a surprise, and it is not a secret. China’s growth slowdown has been well flagged. Indeed, it is a direct consequence of deliberate policy actions that were ...