Demand is best measured in terms of spending. You know, I think in traditional economics, it's a mistake to measure it in terms of the quantity of goods.

Imagine if you had baseball cards that showed all the performance stats for your people: batting averages, home runs, errors, ERAs, win/loss records. You could see what they did well and poorly and call on the right people to play the right positions in a very transparent way.

In China anything less than 6% growth is a recession meaning that it also causes financial problems and it's disruptive and it's a problem.

Ray Dalio Quotes