China’s Youth Unemployment Peaks; GDP Growth Fails to Meet Forecasted Expectation

  • China’s Q2 economy grew 6.3%, falling short of the 7.3% predicted by Reuters economists.
  • Youth unemployment rate reached an all-time high of 21.3%, indicating every fifth individual between 16-24 years is jobless.
  • China’s economy struggles to recover from a three-year streak of intermittent COVID-19 lockdowns, overshadowing Beijing’s 5% growth target.
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