Overall, global economic growth appears to have been close to average in recent months, having been a bit below average earlier in the year. The Chinese economy has been growing at around the same pace as seen earlier in the year, which on an annualised basis is a bit below the authorities’ stated target of 7.5 per cent. Growth of total financing in China, which was very strong earlier in the year, looks to have slowed amid authorities’ concerns about the strength of non-bank financing. In Japan, the adoption of more expansionary monetary and fiscal policies has seen the exchange rate depreciate significantly since ... (full story)