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The world economy is slowing down, and the latest data released Monday on China’s ebbing growth will echo around the world. All the more so because the response from Beijing suggests its leaders are running out of ideas to arrest the decline.
Chinese industrial production—slowing, to growth of 3.8% year-on-year from 3.9% in June. Services—slowing, to growth of 0.6% from 1.3% a month ago. Retail sales—growth slowed to 2.7% from 3.1% in June. Fixed-asset investment, inflation, youth unemployment are all headed in the wrong direction. And they are moving south faster than economists had expected
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