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China Chart Pack (Aug 25)

China’s growth picked up a touch in July, but we expect the economy to remain weak this year. US tariffs will continue to weigh on exports, even as rerouting helps to offset some of the hit. Barring a mid-year widening of the budget, fiscal tailwinds will diminish over the rest of this year. And without sufficient demand support, we expect overcapacity to keep the economy in deflation.

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