“If you look at the Chinese data, you should stop debating about a hard landing…China is in a hard landing. Car sales are down, cement production is down, steel production is down, construction stocks are down. It’s not a debate anymore, it’s a fact…One should be concerned about what’s happening in the China property market. People are too complacent that the government can turn what’s going on in this market.”
That’s Adrian Mowat, JPMorgan Chase & Co.’s chief Asian and emerging-market strategist, as quoted in a Bloomberg story overnight.