From his Manhattan office, Steven Englander looks to commentary from policy makers and executives in Sydney, not Beijing, for the best take on China’s economy.

“They get a direct, immediate view of China demand for highly cyclical products and have an incentive to give it a close read, so if they are sensing an extended slowdown I would take their views seriously,” said Englander, 58, head of Group of 10 currency strategy at Citigroup Inc. “It may be better to have an accurate view of a limited but important segment of Chinese demand than an uncertain view of aggregate demand.”

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