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China's economy is reeling from a double whammy of high youth unemployment and plunging household wealth. After a sustained period of rapid progress that saw growth rates average 10% over 30 years, China's economy has hit the buffers during recent times.
The economy has been struggling and stalling in major sectors, including real estate and manufacturing. In particular, the more difficult economic times have taken a heavy toll on youth employment, leaving millions out of work.Unemployment among young people had been nudging towards 20% before Chinese officials changed the way the figure was calculated.
The economy has been struggling and stalling in major sectors, including real estate and manufacturing. In particular, the more difficult economic times have taken a heavy toll on youth employment, leaving millions out of work.Unemployment among young people had been nudging towards 20% before Chinese officials changed the way the figure was calculated.
