Episode Details

China’s economy slowed to 4.3% growth in Q2, missing its 5% target and marking one of its weakest performances since pre-pandemic lockdowns. While exports surged 27% in June, domestic demand faltered—auto sales dropped 16% despite record car exports, and consumer spending outside autos rose just 3%. Economists are urging Beijing to prioritize boosting home consumption over export-driven growth, which accounts for only 20% of GDP. Local government infrastructure investment has plunged 4% this year, a rare occurrence in China’s history that could derail economic goals. Global risks loom too: U.S.-China trade tensions may reignite, and Middle East instability could dampen global demand for Chinese goods. Though first-half growth hit 4.7%—on track—these headwinds make the upcoming policy meeting critical.

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