China’s latest economic data reveal an economy propped up by cheap exports, masking paralyzed domestic demand and risking wider trade friction abroad, experts say.
China’s gross domestic product (GDP) grew by 4.3 percent in the second quarter, according to a July 15 release from the country’s National Bureau of Statistics (NBS).
While expanding 0.9 percent from the first quarter, the figure landed below the lower end of Beijing’s 4.5 to 5 percent full-year target—already its weakest economic goal in decades.
That pace marked the slowest in three years.
The data showed that industrial output rose 5.3 percent year on year in June, accelerating 0.8 percentage points from May. …
China’s Overcapacity Exports Risk Worsening Global Trade Backlash: Analysts
