Losers' game to bet against China pushing through needed reforms

In a recent article published on ftchinese.com, David Schlesinger, former chief editor of Thompson Reuters, now founder and CEO of Tripord Advisors, wrote that we are bidding farewell to a Chinese century and blamed lack of transparency in China for causing the recent global market downfall. Comments:

Wage growth is running at about 10 percent annually; the pace of creation of nonagricultural jobs is stronger than in any recent year; both real disposable income and consumption expenditures of Chinese households are growing strongly. It is not the picture of an economy heading for a hard landing.

Naysayers question government economic data, continuing to focus on weakness in China's industrial sector and the extremely slow growth of electric power output. But steel production, for example, is significantly more energy intensive than entertainment, so the demand for electricity has fallen sharply as the structure of the economy has evolved.