Here is what the FOMC minutes say on China:
Recent reports from some business contacts pointed to slowing exports to Europe and China, and several participants noted the risk that economic weakness in Europe or a more significant slowing in the pace of expansion in emerging markets in Asia could damp exports further.
That gets translated to ‘FOMC participants said possible significant slowdown in China’ in a BBG headline. It’s an art to shorten anything to headlines but that one misses the mark by a wide range, in my opinion.
The only other mentions of China include a note that the PBOC eased and:
In China, data on production and sales in April and May suggested that economic activity was increasing at a less rapid pace than last year.
In April, Bloomberg pulled a similar stunt that confused markets.
