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China’s Slowing and Still-Unbalanced Recovery

MIN READMay 20, 2021 | 16:55 GMT

A photo illustration shows Chinese 100 yuan notes in Beijing on Jan. 14, 2020.

(NICOLAS ASFOURI/AFP via Getty Images)

China’s economic growth slowed in April and continued the unbalanced pattern that it has shown for most of the past year. With a decelerating economy led by infrastructure and real estate investment, and with manufacturing held up by exports, consumption in China is lagging. As such, China’s recovery will not exert as strong a pull on global recovery as currently forecast and may, in fact, stall world growth. China’s National Statistics Service (NBS) reported broad numbers on a sectoral basis in April. The new data does not map directly into GDP, but provide a summary view of an economy that might have peaked in the first quarter of 2021 when growth increased by 18.3% year-over-year (y-o-y)....

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