The GCL Technology production plant in Xuzhou, China, on July 2.
Photographer: Bloomberg
Xi Jinping’s Great Economic Rewiring Is Cushioning China’s Slowdown
Advances in electric vehicles, solar and semiconductors are helping the nation navigate its property slump
China’s twin-track economy is generating doom-and-gloom headlines about domestic woes one moment and growing fears around the world about the dominance of its manufacturers the next.
Those conflicting signals on Monday showed ongoing strength in industrial production more than offset by tepid consumption as the property slump continues, leading to the slowest quarterly growth pace in five quarters. But through the fog a silver lining is becoming clear: Xi Jinping’s long quest for technology-driven “high-quality growth” is actually starting to pay off.