China's Twin Disappointments Must Stop

Last week's chain of events is a move in the right direction

China has a twin disappointment problem, macro disappointment and policy disappointment at the same time. To move forward, the country must fix at least one of them.

The Chinese economy is a big ship that takes time to turn. Therefore, the easier fix is on the policy: China must meet or beat the market’s expectation on the stimulus (the China Put).

It’s t…