What China’s slowdown means for the world economy

For decades, China’s economic growth was tremendous. But now the nation is seeing a significant slowdown. Its housing sector is in its third year of decline, the stock market is touching new lows and youth unemployment remains high. These issues may be a major headache not only for the Chinese people and President Xi Jinping, but they also have big consequences for the rest of the world. With China’s National People Congress approaching, Bloomberg journalists analyze what the end of China’s boom times means for other countries, companies and you. Here is a direct video link.

Desperate property developers in China have resorted to gifts like new cars, free parking spaces, phones and other consumer goods to attract homebuyers and boost flagging sales. These incentives are just the tip of the iceberg in a crisis involving hundreds of billions of dollars in home builder debt, trillions in local government debt and at least a billion empty apartments. Here is a direct video link.