TOKYO -- The Chinese economy is in trouble. The country's property sector has fallen into a slump, fueling concern about financial sector risks. The economic slowdown has pushed up the jobless rate among people ages 16 to 24 to above 20%, while the International Monetary Fund expects China's growth to slow to 4.5% in 2024 from 5.2% in 2023.
Chinese policymakers have been aware that falling birthrates could spell slow growth, but few appear to have anticipated such a sharp downturn in the real estate sector or a jump in unemployment among young people.
