News Analysis Originally expected to recover from its COVID economy, China is now struggling with new restrictions. China was one of the first countries to bring the COVID outbreak under control and resume economic activity. This put China in the unique position of economic growth, while the rest of the world saw their economies grinding to a halt. In June, industrial, consumption, and investment activity all looked promising, but in July, these numbers began to wane. The recent Delta variant outbreaks have caused China to reimpose lockdown measures in numerous cities, slowing China’s factory output and retail sales growth. In July of 2020, retail sales grew by 12.1 percent, compared with 8.5 percent in July of 2021. Unemployment also increased from 5 percent in June to 5.1 percent in July. Unemployment among young people reached levels not seen in decades. Auto manufacture declined, while the real-estate sector is also slowing down. As …
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