China’s economy abruptly slowed in July as the country grappled with Washington’s tariffs and excessive domestic competition.
Factory activity and retail sales increased less than forecast last month, while property investment fell 12% between January and July compared with the same period last year, and new construction starts fell 20%, further kneecapping the beleaguered real estate sector.
The world’s second-largest economy faces challenges both at home and abroad: State interference has led to a price war in several industries that has eroded profits, feeding fears of “involution,” or self-defeating competition.
Meanwhile US President Donald Trump’s threats are casting a pall over the economy, with the latest data showing the “country’s tariff-related swoon has begun,” an expert told Bloomberg.
