For decades, China’s economic growth was tremendous. But now the nation is seeing a significant slowdown. Its housing sector is in its third year of decline, the stock market is touching new lows and youth unemployment remains high. These issues may be a major headache not only for the Chinese people and President Xi Jinping, but they also have big consequences for the rest of the world. With China’s National People Congress approaching, Bloomberg journalists analyze what the end of China’s boom times means for other countries, companies and you.
This Bloomberg clip looks at the implications of China's slowdown for the global economy. The Chinese property market is stagnant, the stock market has shed a trillion dollars, levels of consumption have dropped and spending on infrastructure projects synonymous with One Belt, One Road has ground to a halt.
So what does this mean for all of us? It's an excellent clip reminding us of the remarkable growth that it has experienced, the extent to which this has reduced poverty, both in China, and globally, but the outlook is somewhat different today. And there's no immediate sign of a recovery.