Is the “Chinese miracle” fading to black? The world’s second-largest economy is grappling with a plethora of different challenges. The country is facing below-trend economic growth, a plummeting currency, rising youth unemployment, shrinking manufacturing activity, and a property sector steeped in financial problems.
China is wrestling with “huge structural problems” that threaten the overall economy moving forward, according to Nicholas Lardy, a nonresident senior fellow at the Peterson Institute for International Economics.
