Stop seeing Beijing's moves in the worst possible light

Tokyo

WHY does so much media reporting on Chinese financial matters seem to be so inaccurate, confused and biased as it is nowadays? Much of it seems to be aimed at justifying a "collapsist" theory for an economy that has come from virtually nowhere several decades ago to being the world's second largest now.

China's economy, it is often suggested, has over-reached itself and is about to collapse like a deflated balloon. The fact that Beijing (with the guidance of the International Monetary Fund) is trying to engineer a controlled slowdown from 10 per cent annual growth to a more sustainable rate of around 6 per cent usually goes unreported.

China's property market is in a "bubble" that must burst soon, we continue to be told, even though so far that has not happened, while real estate crashes elsewhere have been many and frequent. China's stock market admittedly did plunge earlier this year but it appear…