| Dear Reader, As we’ve seen time and again, Beijing plays things close to the vest when it comes to economic facts and figures. They don’t like to show their hand, and so for many years it was a lot of guesswork to figure out how well China’s economy is doing. Until the China Beige Book arrived on the scene. These admirable researchers do what no one had managed to do before: accumulate accurate economic information about one of the most secretive countries on Earth. So when my friend Leland Miller, CEO of the China Beige Book, has something to say, I’m all ears. Here’s just a small excerpt from his team’s China: Early Look Brief that is part of your Trade War Survival Kit: [After] suffering through a poor Q4 [2018], the landscape has thus shifted: China Beige Book’s new results show an unmistakable first-quarter recovery. Along the topline, everything looks better. Revenue and profits nationally each improved on-quarter and on-year, as did investment and hiring. [...] Yet this rally didn’t appear out of nowhere, and there are at least three compelling reasons to doubt its staying power: credit, credit, and credit. What happens in China affects us all... economically and financially. So I recommend you be prepared for what’s coming. We’re making it easy for you with your Trade War Survival Kit, which is available for just two more days. For less than $30, you’ll get: The Expert Panel on China from the recently concluded SIC 2019 in audio and video format, for easy watching and listening on all your devices The full transcript so you can quickly search for quotes or data Five special reports from China Beige Book, Gavekal, Geopolitical Futures, and the Economic Cycle Research Institute; most of these are reports that only high-net-worth clients of the respective firms get to see. This offer will only be available until midnight on July 29... so please don’t wait. Click here to get your Trade War Survival Kit for just $29.95. Your ready for anything analyst, John Mauldin
Chairman
Mauldin Economics | 