Will there be an American comeback? The extraordinary rise of China appears to have stopped under President Xi’s rule, while the US shows signs of picking itself up again.
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China exports fall again as economy struggles
Will there be an American comeback? The extraordinary rise of China appears to have stopped under President Xi's rule, while the US shows signs of picking itself up again.
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<h2 class="wp-block-heading eplus-wrapper">What's happening? </h2>
Zhang is not impressed. A local factory is looking for workers, but paying only £500 a month. The job advert says workers must "work hard". He would rather keep working in a tea shop.
Zhang is like many young Chinese people. They were told the economyThe way that money flows through a country, which affects wages and the cost of living. would be strong for a long time. But now they are struggling to find good jobs.
Not long ago, people said that China would overtake the US as the world's largest economy. This now looks unlikely.
ExportsGoods that are made in one country and then sold in another. - goods that are made in factories in China and sold in other countries - are falling.
<h2 class="wp-block-heading eplus-wrapper">Find out more </h2>
China's rise began in 1978 when its then leader opened up China to business from the rest of the world. The averageTypical or usual. person's wagesThe money you earn from your job. rose by 25 times.
So what has gone wrong? Some blame Chinese leader Xi Jinping for giving the top jobs to people loyalConstantly supporting a person or group, and not switching sides. to him.
Others say the country has built too many buildings, which means that many property companies cannot sell the homes they have made. Meanwhile, fewer people are being born, so the number of people of working age will keep falling.
Meanwhile, many think the US economy is doing well. Since 2017, the US has gained 530,000 manufacturingWhen you make things on a large scale, such as in factories. jobs.
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<h5 class="wp-block-heading eplus-wrapper" id="question"><strong>Will there be an American </strong>comeback<strong>?</strong></h5>
Yes! China is going through a very hard time. It may be years before its economy grows again. America will act now to make a comeback.
No! China still has one of the world's biggest economies. And the USA faces many problems. A comeback is unlikely.
Economy - The way that money flows through a country, which affects wages and the cost of living.
Exports - Goods that are made in one country and then sold in another.
Average - Typical or usual.
Wages - The money you earn from your job.
Loyal - Constantly supporting a person or group, and not switching sides.
Manufacturing - When you make things on a large scale, such as in factories.
China exports fall again as economy struggles
Production reduction: China's growth rate has fallen from an annual figure of 8% to 3.2%. Glossary
Economy - The way that money flows through a country, which affects wages and the cost of living.
Exports - Goods that are made in one country and then sold in another.
Average - Typical or usual.
Wages - The money you earn from your job.
Loyal - Constantly supporting a person or group, and not switching sides.
Manufacturing - When you make things on a large scale, such as in factories.