China’s economic headwinds deepen
2 Articles
2 Articles
As the impact of weakening domestic demand in the Chinese economy became more pronounced, retail sales and industrial production growth slowed, and the decline in fixed asset and real estate investments deepened. Despite the decline in consumption and investment, external demand continued to support industrial production, leading to an increase in urban unemployment.
China’s economic headwinds deepen
China faced deepening economic headwinds in July, state data showed, as consumer spending and investment slumped further. China’s consistently weak domestic demand has long been outmatched by the country’s vast manufacturing capacity, leading firms to expand aggressively in — and grow increasingly dependent on — overseas markets to drive growth. That gap could widen, as Beijing directs more investment into AI to keep pace with the US, “turbochar…
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