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Editor's Note: Below is a brief excerpt (and chart) from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look. 

As you can see in today’s Chart of The Day (slide 93 in the Q2 Macro Themes deck), China’s Secondary Industries (Heavy Equipment, Construction, pseudo “empty cities”, etc.) slowed to 0% growth, TWICE, in the last decade:

  1. During the Great Financial Crisis and
  2. During the Deflationary Slowing of 2016

After the 2nd #ChinaSlowing to 0% growth (2016), the PBOC provided the biggest monetary stimulus in the history of China (yep, that’s a long history!).

CHART OF THE DAY: Forget Trade Deals... What If China's Economy Keeps Slowing? - What If The Red Line Keeps Doing What It s Been Doing All Along

CHART OF THE DAY: Forget Trade Deals... What If China's Economy Keeps Slowing? - early look