China found a $125 billion escape valve for an economy running out of momentum

China’s June trade numbers and second-quarter growth numbers looked strong if you look at them one at a time. However, when you put them together, they describe an economy with a very specific problem: factories are still finding buyers abroad, especially for higher-value industrial goods, while demand at home remains too weak to absorb what the country is producing. That’s how China could post a reported $125.6 bill…