China’s economy has slipped into deflation as consumer prices declined in July for the first time in more than two years.
Ballooning local government debt, weak import and exports, challenges in the housing market, and growing youth unemployment are all contributing to the country’s downturn.
On the Sky News Daily, Dominic Waghorn speaks to our Asia correspondent Helen-Ann Smith about why China’s economy is running out of steam.
Plus, George Magnus, economist and associate at Oxford University’s China Centre, talks about the potential impacts for the global economy ahead of the G20 summit.
Podcast producers: Emma-Rae Woodhouse, Sydney Pead and Soila Apparicio
Podcast promotion producer: David Chipakupaku
Senior podcast producer: Annie Joyce
Editor: Paul Stanworth