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Why Does China Let You Do This? (w/ Leland Miller) | Expert View | Real Vision™

1,710 views · Published 29 August 2018 · 1:57 · Indexed 29 September 2026

Channel: Real Vision Presents · 2018 · News & Politics

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Leland Miller, co-founder of China Beige Book, walks us through his vision of China’s economy. Powered by his firm’s proprietary data gathering and analysis, Miller explores the big picture in China, including his prediction of a slowdown in economic activity. At the same time, he puts this in the context of secular optimism on China’s economic power.

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Why Does China Let You Do This? (w/ Leland Miller) | Expert View | Real Vision™
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Transcript: 
Question number one we get from almost every prospective client is why are you allowed to do what you do. You're going on TV. You're calling the data fraudulent. You're calling the Chinese liars, and you're saying that the data aren't what they claim to the data. Why do they let you do this? And I think it comes down to the fact that we've established ourselves as being useful callers of balls and strikes. So back in 2015, when the vast majority of people either thought that the economy was imploding or they thought differently, but they weren't willing to publicly say it, we came out very strongly out in public after counseling with clients for about a week and said, this is a major overreaction. People are going to look really foolish in a matter of weeks. Yes, China's economy is slowing down, but it's slowing down very similarly to what it did last quarter and the quarter before that. There have been some anecdotal reasons why someone needs to be worried. Manufacturing is slowing. 
The stock market did crash. There have been some problems with the currency. But these are small anecdotal bullets that don't reflect the larger picture? And we came out saying, we looked at our data this week, this morning, an hour ago, and it shows that everything looks pretty good right now. And so I think after August, 2015-- and this happened again in early 2016-- it became very clear to the Chinese government that they may not like what we say the vast majority of the time, but there is great value in having a trusted third party out there that is not interested in being a bull or a bear, but just wants to collect the data and just wants to call balls and strikes.

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