China can meet its 2026 growth target. It still cannot produce its way to rebalancing.
Q3 growth reached 4.5%, but industrial momentum continues to outpace domestic demand. This issue examines weak private investment, the divide between upstream and consumer prices, and the limits of export-led stabilization.
- Why production resilience is not demand recovery
- Weak private returns and the investment slowdown
- Upstream price gains, export exposure and policy choices