Deflation may soon start biting into Chinese growth, as Beijing looks at another three to six months of a “very painful economy,” according to one analyst who covers the country. “This is something investors need to be cautious of. The economy here is bad, it’s pretty ... it’s really bad. I’ve been in China for 27 years, and this is probably the lowest confidence I’ve ever seen,” Shaun Rein, founder of the China Market Research Group, told CNBC’s “Squawk Box Europe” on Monday. “So deflation is starting to wield its ugly head. Consumers are waiting for discounts. They’re very nervous.” Linked to a decline in the ... (full story)