China's 4.5% Growth Leans on Selling Abroad. That Is Trump's Leverage — Use It Before January
Beijing's Q3 numbers show 4.5% growth, but retail sales of consumer goods rose just 1.1% this year and its own statisticians admit domestic demand is weak, while exports to the U.S. surged in September. In our view, the truce should not be extended past January without verified Chinese commitments.
By Clara Hughes
ALTAS WORLD NEWS OPINION | By Clara Hughes, Chief Opinion Editor | October 19, 2026 | 6-min read Beijing announced on Monday that China's economy grew 4.5% in the third quarter, faster than forecasters expected [1][2]. Look under the hood, though, and the engine is not Chinese shoppers. Retail sales of consumer goods rose just 1.1% in the first nine months, fixed-asset investment fell 7.2%, and exports jumped 16.4% [1]. China is growing by selling to the rest of the world, and a big part of the rest of the world is us. In our view, that is leverage, and President Trump should use every ounce of it before the trade truce runs out in January. Key Takeaways China's National Bureau of Statistics reported third-quarter GDP growth of 4.5% year on year and 4.6% for the first three quarters [1]. Retail sales of consumer goods rose only 1.1% in the first nine months, while fixed-asset investment fell 7.2% [1]. Exports rose 16.4% in yuan terms over the first three quarters; CNBC reported September exports up 36.3%, and exports to the U.S. up nearly 39.6% [1][3]. Beijing's own statistics bureau concedes that "the