China's Economy Stumbles

China's economy hit its slowest pace of growth in a year this quarter, hurt by power shortages, supply chain bottlenecks, and major wobbles in the property market. GDP grew 4.9% in July to September from a year earlier, the weakest since Q3 2020. The world's second-largest economy is facing several major challenges, including the China Evergrande Group ($EGRNF@China) debt crisis and a critical electricity crunch that hurt factory output.The weak numbers sent the yuan and most Asian stock markets lower. China has ample tools to cope with economic challenges despite slowing growth, and the economy is expected to grow 8% this year, but Chinese leaders, fearful that a persistent property bubble could undermine the country's long-term ascent, are likely to maintain tough curbs on the property sector even as the economy slows.