Concerns that China's post-COVID comeback would complicate global efforts to tame price pressures now look misplaced, says Bloomberg Opinion columnist Daniel Moss.
This number isn't a one-time problem: Consumer price index has been retreating since the start of the year. When
thought it best to wait for the whites of the eyes rather than take projections of an imminent climb at face value.To some degree, other monetary chiefs adopted the same approach. That worked well until it didn't and borrowing costs had to be ratcheted up dramatically in 2022. The recovery has been called lopsided: A manufacturing and export sector that's struggling with slowing global growth - chatter about a recession in the US has grown louder - and a consumer sphere that's going great guns. Key factory gauges have languished in recent months, while retail sales are robust.The sympathetic view of this two-track economy is that China has reopened into a global rebound that was already past its prime.
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