China’s youth unemployment reaches 21%, threatening internal stability for the country

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China reports second-quarter GDP miss, another record high in youth unemployment. How will the market react to this.

The 6.3% GDP print for the second quarter marked a 0.8% pace of growth from the first quarter, slower than the 2.2% quarter-on-quarter pace recorded in the first three months of the year.
National Bureau of Statistics spokesperson Fu Linghui noted China faces a complex geopolitical and economic international environment.
He also said China can still achieve its full-year growth target. Beijing in March set a goal of around 5% growth for 2023.

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