New data shows the world’s 2nd-largest economy is struggling to recover, even after pandemic restrictions were lifted. In March, China’s economic managers set a growth target of 5%, up from 3% in 2022 – a sign that was interpreted as determination to get things back on track. But that goal is looking increasingly doubtful because when it comes to inflation, China’s got the opposite problem of Australia and so many developed nations… Data shows that China’s consumer price growth was at 0% in June – down from the puny 0.2% in May. And annual producer prices dropped 5.4% in June – their 9th consecutive monthly drop and the steepest since 2015. Long story short, China’s deflation has analysts worried because the key to economic growth is demand, which isn’t present in their massively important economy ATM. It’s yet another thing to keep an eye on…