花旗：中国经济-在关税背景下，出口驱动型增长模式是否回归

V i e w p o i n t | 19 May 2025 02:16:28 ET │ 12 pages China Economics Is the Exports-Driven Growth Model Back Amid Tariffs? CITI'S TAKE China's economy held up in April despite escalating trade tensions. The real growth rate could have been trailing at >5.0%YoY. The past exports-driven growth model appears to be back, at least for now. The production side was stronger than the demand side, and external demand outpaced domestic demand – both retail sales and fixed-asset investment weakened more than expecte ...