BBCNEWS Asia Business Report June 4, 2024 01:38:00
Great question. unemployment rate has been quite high, as high as around 20% for the younger demographics. i think this will certainly put a blip on consumption growth for the country. that is now heavily reliant on consumption to drive gdp growth this year. for the time being, we continue to see the younger generation spending, but as opposed to the trend of spending up, there are increasing signs of trading down by these young consumers. so, i think this certainly would have some negative implications on long—term consumption outlook for china, and chinese authorities are paying close atte...