Chinese officials signal their concerns by taking measures aimed at reviving growth and steadying markets.
China was expected to experience a rip-roaring recovery after it lifted strict COVID-19 restrictions.
But almost a year after the measures ended, the Chinese economy seems to be stumbling.
Prices have fallen. Exports and imports have plummeted. Unemployment has risen. And the real estate crisis has deepened.
The sentiment is so bad that foreign investors fled the stock market last week.
The situation could get even worse after the nation’s biggest property developer, Evergrande, was ordered to liquidate.
Tech giants are making big profits, but they are laying off thousands of workers.
Plus, poly-employment is on the rise.
Source link
