China is Quickly Running Out of Time

Foreign investors are retracting funds as China's central bank battles the yuan's decline, the weakest since 2007. Treasury Secretary Janet Yellen flagged China as a US "risk factor", echoing President Joe Biden's recent characterization of China's economy as a "ticking time bomb". Contrasting Biden's economic stimulus, Xi Jinping aims to break China's reliance on speculative construction and unclear local borrowings amidst growing challenges including real estate crises and labor market instability. China grapples with escalating youth unemployment, reaching 21% in May 2023, up from 15.4% two years earlier. Fang Xu, a sociologist at UC Berkeley, notes the ongoing recovery of the young population from strict lockdowns. The world's second-largest economy struggles to recover from the Covid pandemic, impacting investment opportunities and the property sector significantly. Companies like Otis witness a decline in the Chinese market, with broader impacts yet deemed restrained by experts like Brad Setser, a former Biden administration adviser. #China #Economy #Yuan #GlobalImpact #YouthUnemployment #RealEstateCrises #JanetYellen #InvestmentOpportunities

Timestamps:
China Slows Down 0:44
Geopolitical Tension 10:52

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