Bob Elliott
· Nonconsensus
· July 15, 2026 at 10:32
| Read on Substack ↗
Summary
Chinese economic data continues to deteriorate as the long-running deleveraging campaign persists, signaling persistent headwinds for growth and risk assets tied to China.
•China's primary macro story has been deleveraging for years.
•The latest data suite indicates the economy is still moving in the wrong direction.
•The article implies continued downside risk without identifying specific data points or policy responses.