Economists are forecasting 7% growth in China for this year, according to the Bloomberg consensus median, in line with government targets. Although it is lower than the historical growth trend of China, any country (U.S. included) in the world right now would kill for a 7% GDP.
So does this mean all’s well in China?  A Bloomberg Intelligence analyst who just completed a tour of the country reported what he saw:
“…. idle cranes, empty construction sites and half-finished, abandoned buildings in several cities. Conversations with executives reinforced the “gloomy†outlook….It’s as bad as the data looks, if not worse.â€
