Browsing: deflation
China’s economy has slipped deep into deflation as consumer prices declined in July for the first time in two years.…
China, the second-largest economy in the world, has recorded its first deflation since 2021, and the country’s growth is slowing at a great pace. The decline increases the likelihood that businesses will reduce production and lay off workers. Beijing prefers tailored measures to large-scale stimulus packages to reverse the trend, but people aren’t spending as a result of the economy’s sluggish income growth and uncertain future.
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