The country is experiencing a protracted slump where growth is stalling and last week the Chinese yuan fell to its lowest levels in 16 years
Other problems include a high youth unemployment rate, which was a record high of 21 per cent in June and which the Government decided to stop publicising earlier this month, amid suggestions that it was an indication of the country’s slowdown.
Other issues include a change in the labour market from majority high-skilled to low-skilled jobs, an ageing population, and a struggle to shift to a consumption-based economy. The economist and author George Magnus, a research associate at Oxford and SOAS universities, agreed, saying the slowdown was “worrying” though the direct affect on UK businesses and consumers was currently “mild”.
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