China has reported its economy showed signs of slowing in July as factory output and retail sales slowed while housing prices fell further.

China's stands at 84 percent, buoyed by debt-driven growth in the 2010s and a housing market crunch that heavily indebted local governments. London-based global advisory firm Oxford Economics estimates the Chinese economy's potential growth could be cut roughly in half by the 2050s.

Poor data show the limits of Beijing’s wait-and-see approach.

This essay is an adaptation from Wang’s forthcoming book, Breakneck: China’s Quest to Engineer the Future, which is available August 26, 2025. In cutting off rare-earth magnets, officials in Beijing flexed but one finger.

Policymakers are under pressure to roll out more stimulus to revive domestic demand and ward off external shocks to the $19 trillion economy.

Few commodities tell the story of China’s 21st-century economy better than humble cement, and its current output slump illustrates the depth of the nation’s building slowdown after the frenzy of the previous decade.

But many analysts, both inside and outside China, believe that Beijing continues to fudge its overall growth numbers, in part because officials remain deeply concerned with projecting a rosy image of the economy. China officially reported that its economy grew by 5 percent in 2024, while the US reported only 2.8 percent growth.

Top diplomats from Pakistan, China, and Afghanistan are meeting in Kabul for a trilateral summit. The meeting, set for Wednesday, aims to boost political, regional, and economic cooperation.

China’s engagement with its African counterparts in May spanned the gamut—from concrete economic dealmaking and forward-looking trade cooperation largely in North and East Africa to sports diplomacy

China will stage a massive military parade next month in Beijing to commemorate 80 years since the end of World War Two following Japan's surrender, mobilising tens of thousands of people and showcasing weapons never seen before.

The Chinese economy lost some momentum in July, backing the case for policymakers to snap out of wait-and-see mode and stimulate growth.