China's Q3 GDP Growth Slows to 4.8%

Published 10 hours ago

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Above: Workers at Dongfang International Container Co., Ltd. work on the workshop production line in Lianyungang, China, on Oct. 20, 2025. Image copyright: Costfoto/NurPhoto/Getty Images

The Spin

Pro-China narrative

The latest statistics demonstrate the remarkable resilience of the Chinese economy. High-tech manufacturing and equipment production are surging, employment remains stable, and household incomes are rising steadily across the country. The nation is successfully pursuing high-quality development while maintaining economic stability.

National Bureau of Statistics of China CGTN

Anti-China narrative

China is caught in a destructive cycle of "involution," where excessive competition destroys profits and fuels deflation. This widespread overcapacity across multiple sectors creates price wars that hurt workers through wage cuts and job losses. The current crisis is far worse than previous downturns, affecting private companies rather than just state enterprises.

The Wall Street Journal