China’s gross domestic product (GDP) rose 7.8% from one year ago, an acceleration in the country’s rate of growth. Investment accounted for more than half of growth so far this year. The Chinese government has begun encouraging consumption to be the main driver of economic growth, as opposed to investment. “We believe the People’s Bank of China will slightly shift its monetary policy from a moderate expansion in the third quarter to a neutral stance,” said Ting Lu, an economist at Bank of America-Merrill Lynch.
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It looks like we got some good news and bad news this week.
The good news -- if you can call it that -- is we have a “deal” in Washington that will end the government shutdown and fund the government for a few more months.
The bad news is there was no real progress, despite the shutdown and all of the political blustering. In my opinion, Washington simply hit the snooze button. Much like trying to crib a few more minutes before facing the day, we now have a little while until we have t
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