What’s Going on With China’s Economy: Your Week of Big Take
China’s $18 trillion economy is decelerating. Consumers are downbeat, exports are struggling, prices are falling and more than one in five young people are out of work.
The real estate crisis drags on. Country Garden Holdings, with 3,000 pending property projects up and down the country, is on the cusp of default. Meanwhile protestors have gathered at Zhongzhi Enterprise Group, one of the biggest shadow banks, demanding their money as payments are halted.