Policymakers at the Fed and ECB might want to take a cue from the People’s Bank of China. Chinese growth has continued to steadily and inexorably rise, and is only now “moderating” (relatively, of course) and some analysts believe that it’s testimony to the People’s Bank of China and the Beijing government which are exceptionally skilled at manipulating policy to achieve a desired end. In the last three months, inflation has decreased steadily from a July peak of 6.5% to the current (September) 6.1%. Also in the last quarter, China’s GDP “slowed” to 9.1%. But all of this is exactly where the Chinese government wants ... (full story)