China’s economic output increased by 6.9 per cent in the third quarter, year-on-year — its most sluggish performance since the global financial crisis — according to data published this week.
But behind this lacklustre number, China’s consumers are spending more and the job market appears robust (see charts), which makes certain sectors of the economy a potentially attractive investment.
Five years ago, China achieved double-digit growth, which the government created by pouring debt into new railways, roads and bridges and allowing abundant credit to create a property bubble.
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