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China taps old growth model to boost recovery, as US and European economies flounder

Summary:
[unable to retrieve full-text content]China’s recovery from the coronavirus pandemic continued in July, but analysts have cautioned that the nature of the rebound represents a step back in time, with the economy once more reliant on heavy industry, infrastructure projects, debt, investment and low-end exports.Sentiment reflected in the official purchasing managers’ index (PMI) for July, released on Friday by the National Bureau of Statistics, pointed to a fifth successive month of growth in manufacturing, services and construction…

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[unable to retrieve full-text content]
China’s recovery from the coronavirus pandemic continued in July, but analysts have cautioned that the nature of the rebound represents a step back in time, with the economy once more reliant on heavy industry, infrastructure projects, debt, investment and low-end exports.Sentiment reflected in the official purchasing managers’ index (PMI) for July, released on Friday by the National Bureau of Statistics, pointed to a fifth successive month of growth in manufacturing, services and construction…

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