China reports sluggish economic growth

China on Tuesday reported “one of its lowest quarterly growth rates in decades,” the Financial Times said. From April to June, the world’s second-largest economy grew just 4.3% compared to the same period last year — below economists’ projections of 4.5% and down from 5% growth in the first quarter.

This is a “rare admission of economic weakness for China,” CNN said. Despite “surging exports buoyed by the AI boom,” the country still faces a “weak domestic economy and sluggish consumer spending,” The Wall Street Journal said. “Tensions with trade partners, including the U.S. and the European Union,” also remain, CNBC said. Focusing heavily on exports while domestic demand falters is “really quite unsustainable, to be frank,” Alicia Garcia-Herrero, an economist with financial firm Natixis, told CNN.