JD.com Chief Economist Flags China's Demand Crisis as Q2 Growth Slows to 4.3%: China's Factories Are Outrunning Its Consumers

Highlights

• China's Q2 GDP growth slowed to 4.3% while August retail sales rose just 0.4% year over year
• JD.com economist Shen Jianguang describes a 'three strong, three weak' economy: strong supply but weak demand, strong exports but weak domestic activity
• Motor-vehicle retail sales fell 13.9% while telecom-equipment sales surged 27.3%, revealing a sharp sectoral divergence
• The IMF warns China's size and rising trade tensions make continued export-led growth increasingly difficult
• Rare earth processing, EVs and advanced manufacturing now sit inside national-security policy, limiting foreign market absorption of Chinese industrial capacity