All You Need to Know About China’s Economic Slowdown
Shipping containers in China’s Jiangsu Province. The economic slowdown in recent months is sounding alarm bells across the world.
BloombergHi, this is John Liu in Beijing with a special edition of the Next China newsletter. You may be receiving this because you subscribe to one of our other newsletters, including Economics Daily, Five Things: Asia and Balance of Power. If you’d like to keep reading Next China, sign up here.
Today, I’ll tell you all you need to know about the slowdown in the world’s second-biggest economy.
If I had to use one word to describe the current situation, it would be fragile. The economic data we’ve gotten over the past few months have largely painted a gloomy picture. Chinese households are spending less than expected and saving more instead. Businesses are borrowing and investing at a reduced pace. And while the overall jobs situation has been stable, unemployment among the country’s youth has jumped so much that Beijing decided to stop releasing the data.