China Hits 2025 GDP Growth Target on Export Boom, but Can’t Shake Domestic Chill
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China's economy grew 5.0% last year, meeting the government's target by seizing a record share of global demand for goods to offset weak domestic consumption, a strategy that blunted the impact of U.S. tariffs but is increasingly hard to sustain.
Since its property sector crash in 2021, Beijing has guided resources towards the industrial complex rather than consumers to meet ambitious growth targets, creating endemic production overcapacity and forcing factories to look for buyers abroad.
Last year, China's inroads into global markets went further than ever before, leading to a record trade surplus of $1.2 trillion, 20% higher...
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