China’s economy grew 4.5% last quarter, yet its export boom risks being ‘a drag on world growth’

China on Monday said its economy grew 4.5% for the July-September quarter from a year ago fueled by robust exports, moving closer to meeting its official annual growth target as the year nears its end and at a time when its trading partners felt an increased urgency in balancing their trade deficits with the country. The better-than-expected official data accelerated from the 4.3% year-on-year growth recorded in the April-June quarter, which was the slowest expansion in more than three years. For the whole year, Chinese leaders have set a growth target of 4.5%-5%, down from last year’s 5% expansion.

Source: Fortune Crypto