China reported 4.5% GDP growth for the July-September quarter, beating forecasts and accelerating from 4.3% in the previous quarter. The growth was fueled by robust exports, with high-tech goods like semiconductors, hybrids, and electric vehicles leading the way. The article notes China is on track to surpass last year's record $1.2 trillion trade surplus, helped by a 36% jump in exports in September alone. The export surge is tied to massive state-supported manufacturing capacity in solar and EVs, built up while domestic demand weakened amid a property market downturn. As a result, many of these goods are shipped overseas at competitive prices. The piece also explains why trade partners are pushing back, including EU limits on Chinese hybrid imports, and why relying on foreign demand to prop up growth is seen as unsustainable.
