China’s battle with deflation isn’t just a demand problem
Beijing’s policies have encouraged overproduction and excessive competition
Beijing’s policies have encouraged overproduction and excessive competition

Cutting excess capacity is not enough — Beijing must rebalance towards consumption

Industrial production and retail sales expand by slowest pace this year as policymakers battle threat of deflation

Beijing’s export offensive could be more destabilising than Trump’s tariffs

The country plans to reinforce its dominance of global manufacturing, despite persistent deflation at home and rising tensions…

Chinese policymakers are finally getting serious about boosting consumption

Deflationary pressures ease as AI-related spending rises and Beijing clamps down on overcapacity