The slowdown of the Chinese economy is spreading to the housing market (1), manufacturing (2), real estate development (3) and affecting international shipping rates (4) leading to fears of a global slowdown (5).
Chinese business have also been affected (6) with some industry-leading firms expecting mass layoffs (7) (8), creating difficulties for young graduates to find work (9) despite the fact that more young people are expected to return from overseas (10).
The complications have resulted in a massive liquidity injection (11) and a reevaluation of GDP projections for 2019 (12).
China has responded internally to the economic troubles in two major ways. 1) asserting more control over their population can be a way to “keep the peace” through troublesome times (13). 2) Adjust the legal system to reap a quick buck from taxing the uber-wealthy (14) and prevent capital flight (15).
Neither method would lead one to assume the state has a solid plan for getting the country out of the impending stagnation (16), especially considering the careless way in which its youth’s debt-fueled (17) splurge without worry for the future (18).
China's economy is slowing, and it's taking Hong Kong's once-booming housing market down with it
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