China economy loses steam amid weak demand, coronavirus and floods, analysts say

Facing a multitude of headwinds at home and abroad, from floods along the Yangtze River, to coronavirus outbreaks in the West, and an inability to stimulate domestic demand, analysts said China’s economic recovery lost its head of steam in July.While the economy is still growing, it is being powered largely by the old levers of property and infrastructure investment, with President Xi Jinping’s stated aim of “dual circulation”, where China is powered by local demand, yet to kick into gear…

Read the original article at South China Morning Post