Economy; Fourth Plenum; NBA’s China problem may get worse

Q3 GDP was officially 6%, the lowest level since 1992. Officials are not publicly panicking and there are as yet no signs of any massive stimulus.

A phased trade deal with the US may help take off some of the economic pressure but the issues for China’s economy are much deeper and more structural.

NBA Commissioner Silver set back the NBA’s efforts to find a resolution with China with his comment that he was asked to fire Houston Rockets GM Daryl Morey. I am all for transparency but if Silver’s goal is to quietly work out a way to continue growing in China then this was not something to be said so directly.

There is still no date for the Fourth Plenum other than “October” as announced in early September. Given the calendar for the rest of the month it is likely the Plenum will convene as early as this coming weekend. The agenda for the meeting, as announced last month:

the CPC Central Committee will hear a report from the Political Bureau on its work, and discuss important issues concer…