![China Says Recovery Gathering Steam](https://i0.wp.com/heisenbergreport.com/wp-content/uploads/2023/08/YuanEKGAug2023.png?fit=1152%2C674&ssl=1)
China Says Recovery Gathering Steam
Chinese economic activity picked up in March, according to... well, according to China's statisticians.
Can you sense the implicit derision? I hope so. I also hope I'll be forgiven: I employ the very same mocking cadence when it comes to the tabulation of macro statistics in the West. I'm an equal-opportunity skeptic when it comes to the reliability of data purporting to say anything meaningful about very large economies.
But China's a special case, where that means it's a former totalitarian