China's economic implosion isn't happening; now it's showing resilience

Somehow the nation once seen as a major swing factor now accounts for more than a third of global growth

China's economic performance is all about what hasn't happened. That's huge.

The world's No. 2 economy didn't implode under a mountain of debt, nor did trade tensions with the U.S. bring exports undone. And there certainly hasn't been the trade war many feared a year ago. The country's growing reliance on services and consumption as an engine of growth -- a little-understood phenomenon in the West -- wasn't reversed. Kudos.

All of these non-events add up to a big deal: The place that accounts for more than a third of global growth is showing remarkable economic resilience and is even