Marketplace All-in-One China's economy hits a rough patch
Dec 15, 2025
Julia Coronado, founder of Macro Policy Perspectives and a professor at UT Austin, and Michelle Fleury, BBC journalist, dive into the signs of a stalling Chinese economy. Coronado explains the slowing U.S. labor market and the stubborn inflation that won't quite fall to target levels. Meanwhile, Fleury reports on retailers expecting the lowest seasonal hiring in years, despite projected strong holiday sales, attributing this to economic uncertainties. Both guests highlight the mixed responses from shoppers regarding their holiday spending plans.
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China's Domestic Demand Is Faltering
- China’s official data show weak industrial output, retail sales, and fixed-asset investment indicating economic stagnation.
- Export strength masks domestic weakness, keeping headline growth near target but hiding internal demand shortfalls.
Property Slump Undercuts Investment
- The property slump drags on investors who have outsized exposure to real estate in China.
- Weak housing investment reduces broader fixed-asset investment and consumer confidence.
Consumers Hold Back Despite Sales Events
- Chinese consumers cut spending, shown by disappointing Singles Day sales despite extensions.
- The IMF urged Beijing to shift from export reliance to boosting domestic consumption.