China Struggles to Export Its Way Out of Economic Slump

• China is trying to export its way out of economic problems, but the world is less willing to accommodate China's export needs than in the past.

• China's property/real estate crisis since 2021 has dragged down housing sales, construction activity, household net worth and consumer spending.

• Beijing's policy responses to the crisis have been inadequate so far. Interest rate cuts and targeted lending have had little effect.

• The export-driven model worked for China in the 1990s-2010s but is less likely to succeed now, with China already accounting for 15% of global exports.

• Governments globally have implemented over 70 import-related measures against China since early 2022, showing increasing resistance to Chinese exports.