Q2 economic data; China-EU Summit; Beidaihe …

Happy Monday, here are some of the top things I am watching about China today: China's Q2 GDP met expectations, unsurprisingly. The debate, leaving out those who think the data are all fake and the economy is on the verge of collapse, now seems to be around the health of those numbers and what policy response may be expected. It sounds like more reserve ratio cuts and increasing fiscal stimulus are likely but I still think it is mistaken to assume the "tough battle" against debt and financial risks will be materially throttled back;

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