China’s trade surplus has halved in the last three years thanks to global weakness and the strength of Chinese investment demand. We expect a further decline in 2012, but then a rebound as China’s...

China’s Q4 data suggest the economy is stronger than previously thought. But problems in real estate are mounting as developers’ holdings of unsold properties swell. Meanwhile, investment appears to...

China’s largest quarterly business survey shows that confidence among property developers has collapsed. Among firms more generally, it is private companies that – once again – are faring worst.