DANIEL LACALLE: Careful with China. “China continues to grow in a planned and optically spectacular way (9.1% annualized in the third quarter compared with the same period of 2012). The machine is doing 'okay' as long as the Government keeps it well oiled. It is the triumph of massive debt and central planning. Triumph? No, it is not . Even prime minister Li Keqiang, according to Reuters, referred to Chinese GDP as 'man-made and for reference only." Read the rest.