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What is behind China's economic woes?
Published 2 years, 9 months ago
Description
Chinese economic growth is faltering. The biggest drag on the economy is the tanking property market, with prices falling and developers defaulting. Domestic demand is dropping as nervous consumers opt to save rather than spend. That’s bad news too for the vital manufacturing sector. Add double-digit youth unemployment and the problems are piling up for president Xi Jinping.
Beijing correspondent Denis Staunton explains how, after decades of massive growth, China has slowed down and explores what it means for the rest of the world. Presented by Bernice Harrison. Produced by Declan Conlon.
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