The foundation of the Chinese recovery, to borrow official government rhetoric, is not solid. Markets may be celebrating signs of life in the economy, but there are plenty of people questioning the quality of the recovery.
It is a debate reflected in the latest interrogations of the Chinese household sector by FT Confidential Research, a unit of the Financial Times.
FTCR’s April consumer sentiment survey found a solid improvement in readings of current financial situations and discretionary spending habits, as the first chart shows.
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