China’s laundry list of issues continues as the Government is searching for new ways to revive the slowing economy and protect investors and companies against a US large-scale backlash. We look at their plan to double spending on infrastructure. At the same time, the rich Chinese are becoming richer and hoping to surpass their American peers.

China’s Growth Much Worse Than Reported, What About the US? (Money Maven)Argues that the Chinese economy is doing worse than might be currently portrayed. Desperate to avoid a slowdown, the Chinese government is launching 770bn yuan infra projects to boost the economy, double that of last year. Bullish near-term Chinese growth and hence stocks

Locking China Out of the Dollar System (Project Syndicate) Given the dominance of the dollar, a US restriction on capital flows have more far-reaching effects than any trade tariff. Trump is reportedly considering restrictions on US portfolio flows into China, including a ban on US pension funds from investing in China and delisting Chinese firms from US stock exchanges. Capital controls are coming to the US – could hurt dollar.  

There Are More Wealthy Chinese than Americans for the First Time (CNN) The average American is still much richer than their Chinese counterparts and China still has only a quarter of the millionaire count of the US, but it’s rising up the charts quickly. Now there are more rich Chinese than Americans in the top 10%.