🇨🇳 China's Economic Slowdown
- Country is in deflation for first time since February, 2021.
- Youth unemployment at record high 21.3%.
- Exports have fallen to a three-month low, imports at five-month low.
- China’s biggest private homebuilder Country Garden, lost around…
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\ud83c\udde8\ud83c\uddf3 China's Economic Slowdown
- Country is in deflation for first time since February, 2021.
- Youth unemployment at record high 21.3%.
- Exports have fallen to a three-month low, imports at five-month low.
- China’s biggest private homebuilder Country Garden, lost around $7.6 billion in the first half of the year and missed bond payments.
- New lending by banks has fallen to lowest levels since 2009.
- Local government debt continues to mount, has now risen to $9.3 trillion.
- IMF projected 5.2% growth for 2023, equivalent to 35% of total global growth, but other analysts are starting to revise estimates downwards.
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