By Rob Cox
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
China's transition into a domestic demand driven economy has kicked off with the government announcing long-awaited reforms, but it is missing a key element -- an indicator to measure the success of the plan.
Optimism in Germany is roaring and consumers across the euro zone are starting to become less gloomy. But the latest hard economic data are a reminder of the difference between confidence that things are going to get better, and the hope that they will.
By John Foley
The author is a Breakingviews columnist. The opinions expressed are his own.
China’s hard landing is the catastrophe that wasn’t. A return to expansion in the closely watched official survey of purchasing managers released on Nov. 1 leaves the Chinese economy on track for GDP growth of around 7.5 percent for 2012. The Breakingviews Tea Leaf Index, which combines a more eclectic group of indicators, also showed that conditions are improving. But talk of a punishing downturn will recur, because China’s economy remains unbalanced.