China's weak consumption drags on economy as Trump tariff threat looms

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China's weak consumption drags on economy as Trump tariff threat looms - Channel News Asia

Quick Summary:

BEIJING: China's industrial output growth quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more US trade tariffs under a second Trump administration.

Trump, who is set to start his second term as the US president in January, has threatened tariffs in excess of 60 per cent on imports of Chinese goods.

Policymakers continue to grapple with a years-long property crisis that is dragging on consumer confidence and the broader economy, with some 70 per cent of household savings parked in real estate.