China’s growth is much worse than it admits – but that doesn’t matter

China's economy is worse than its government admits. But that doesn't mean you should avoid it, says John Stepek. In fact, now might be a good time to buy in.

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China's economy is worse then the government will admit, but will get better

Now there's a surprise China's GDP was better than anyone expected. It came in at 6.9% for the third quarter; below the 7% seen in the first half of the year, but better than economists had expected.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.