Is China Already in a Recession?

I think we kind of just muddle through and don't get a recession again this year. I've never seen the labor market like this in my life. The American consumer fuels our economy. In order for them to stop spending, they need to get laid off. And if the stock market goes down 20%, there needs to be reason for people to stop spending. So you're going to have to see those things happen before the economy can cool off.