Credit, investment and fiscal spending are all slowing in China at once, bank loan growth down to a record 4.9% and youth unemployment at 18.9%, even as exports jumped 25.0% ahead of the September 24 Xi-Trump meeting.
World Data Analysis reads August's industrial rebound as a mix shift toward robots, chips and NEVs even as cement and handset assembly keep shrinking. Source
Something more structural than a soft patch shows up in China's August data, released between September 12 and 19: every one of Beijing's traditional growth engines is losing power at once, and the engine still running is also the one most exposed to next week's headline risk.
