Beijing rolled out three policy moves in 72 hours aimed at industrial overcapacity and hidden local-government debt, as China's producer prices rose 3.8% year on year and the yuan strengthened past 6.70 per dollar for the first time in four years.
YCC Macro argues August's 25% export surge sits on a fragile 4.2% year-ago base, so AI hardware demand and catch-up shipments may fade as comparisons tighten. Source
