China is still heading for a severe slowdown according to RBC economists

Eric Lascelles, chief economist at RBC Global Asset Management says its economy is heading for a severe slowdown

• Lascelles predicts GDP in the next decade will grow by as little as 4.5% per year
• He says of the better data last week, “It’s not a sustainable growth rate for Chinese trade. The global demand isn’t enough…and there simply isn’t scope for its exports to grow materially,”
• and “There’s nothing in [these figures] to suggest a major rebound is underway…the longer term slowdown story is ultimately still intact.”

Just a few minutes ago I posted some of the more upbeat assessments