China released a raft of economic data over the weekend and I am struck by how it is being characterized as “mixed”.

Exports: Up 15.3%

Imports: Up 12.7%

Inflation: CPI up 3% year over year, down from 3.4% last month

Industrial Production: Up 9.6%

Auto Sales: Up 22.6%

Retail Sales: Up 13.8%

This is mixed? I’ve been wondering lately if the slowdown in China might not be just what the doctor ordered. It reduces the strain on global resources, lowering oil and other commodity prices. That is a no doubt positive for the rest of the developed world and also might push resource dependent economies like Australia and Brazil to further diversify their economies. What’s so bad about China growing at 7 or 8%? It might not be what the central planners ordered but it isn’t bad by any standard.