You hear a lot about slowing Chinese economic growth, with worldwide economic implications, especially on commodity prices. But if China is still really growing at almost 7%, according to official Chinese figures, that’s a growth rate far above the rest of the world. As usual, the real story is more complicated than the headlines indicate. For instance, passenger car sales are up only 3% over the last year, but sales of iPhones are up over 100% in China over the last year.  Here’s an optimistic take on the Chinese economy.