What Happened New Chinese economic data from April has laid bare the continuing fragility of the world's second-largest economy despite Beijing's stimulus efforts. Industrial output, retail sales and investments all slowed last month, with retail sales and manufacturing investment growing at a respective 7.2 and negative 1.2 percent, their slowest pace in nearly 15 years. The data comes on top of declines in exports and manufacturing, suggesting the deceleration is occurring across the board and dampening hopes of recovery despite positive economic indicators in March. Why It Matters While trade talks between China and the United States have not completely collapsed, obstacles to a deal remain large. Chief among these is Chinese resistance to U.S. demands for a codified enforcement mechanism and other legal changes.