China's Economy Outperforms Expectations Amidst Trade Tensions

Despite the looming threat of US tariffs and a struggling property market, China's economy grew by 5.2% in the second quarter of 2024, exceeding economists' predictions of 5.1%. This growth is attributed to government stimulus measures and a temporary trade agreement with the US. Manufacturing saw a robust 6.4% expansion, driven by increased demand for advanced technologies. However, retail sales growth slowed in June, indicating potential vulnerabilities. The overall performance suggests a degree of resilience in the face of significant economic headwinds.