The publication of the latest US GDP data casts a clear light on the false claim the US economy is recovering strongly and China faces 'crisis'. The data shows that in the last year, from the 1st quarter of 2013 to 1st quarter 2014, China's economy grew by 7.4% and the US economy by 1.5% – see Figure 1. Even given the effect of the bad weather on the US economy in the 1st quarter, the much greater growth impetus on China than the US is clear.
Taking the six year period, 1st quarter 2008 to 1st quarter 2014, as shown in Figure 2, the US economy grew by 7.1% and China’s economy by 63.0% – that is China’s economy grew almost nine times as fast as the US. In short all the claims of ‘China crisis, US strong recovery’ have no contact with the facts.