The current situation is showing that Economic data goes In contrast to expectations, which called for an a5% increase over the prior year in retail sales, the actual figure was 2.7%, which was a significant miss. However, it’s also lower than the 3.1% growth that we saw in June, even though retail. Retail sales are a crucial indicator of consumer confidence, so the fact that they are down indicates that Chinese consumers are not very confident. Chinas was hoping that the economy will be able to hash upward in the international demands so that exports will rebound by the end of July. Those numbers werealso soft; they came in at 3.8% for July, moving up from the expectations of 4.5% and the previous twonumbers, which came in at 3.5% and 3.8% respectively. Factory output and exports are two of the main engines of China’s economic growth.

1. 1/4
cryptonewsmart.com
/chinas-economic-crash-what-it-means-for-crypto/
China’s Economic CRASH: What it Means for Crypto?
⋮ 24/08/2022
China’s Economic CRASH: Why it’s happening i? Why It poses the largest risk to the world economy?
China’s Economic CRASH Data
The current situation is showing that Economic data goes In contrast to expectations, which called for a
5% increase over the prior year in retail sales, the actual figure was 2.7%, which was a significant miss.
However, it’s also lower than the 3.1% growth that we saw in June, even though retail. Retail sales are a
crucial indicator of consumer confidence, so the fact that they are down indicates that Chinese
consumers are not very confident. China’s was hoping that the economy will be able to have a push up
words in the international demands so that exports will rebound by the end of July. Those numbers were
also soft; they came in at 3.8% for July, moving up from the expectations of 4.5% and the previous two
numbers, which came in at 3.5% and 3.8% respectively. Factory output and exports are two of the main
engines of China’s economic growth.

2. 2/4
China’s Real Estate
According to most estimates, real estate accounts for anywhere between 20 and 30% of China’s GDP; in
any case, it appears that things haven’t been getting any better in this already underdeveloped sector.
Real estate is, of course, another really important aspect of China’s economic growth. In just one month,
the average price of a brand-new home dropped by 1.67% across 17 major cities. This was an even
bigger drop in June, when it fell 1.9% month on month, marking the 11th consecutive month of declines.
Hopes that the government’s planned infrastructure drive would help to lift these numbers, but it fell short
of the forecasts as fixed-asset investment slowed in July to a weak 5.7% increase year-over-year and
even lower in the prior months.
China’s Unemployment
Another worrying statistic was the record 19.9% youth unemployment rate among those between the
ages of 15 and 24. When we combine all of this information, we can see that China is really in difficulty.
People in China feel impoverished because their earnings are low even if they have jobs, and what’s
even more surprising is that the official statistics—which are those that the Chinese government agencies
themselves publish—indicate that things may be considerably worse. The People’s Bank of China’s
unexpected decision to slash interest rates last week was one of the clearest indications of how difficult
conditions are becoming for the Chinese economy. This happens as other central banks around the world
have started the cycle of raising rates by 10 basis points. I’m sure Xi Jinping isn’t happy that China’s
objective of achieving 5.5% GDP this year seems like a dream.

3. 3/4
China’s Economic CRASH
At the moment, one of the biggest problems for the Chinese economy is the real estate market, which
could lead to a much bigger economic crash. Despite the country’s economic growth over the previous 14
years. When it comes to the real estate market, for example, if we compare the average cost of home
ownership to the median income, China is off the charts. The majority of Chinese people have been
pumping their money, making this the best investment possible. Due to this unending demand, some
Chinese property developers grew into some of the biggest companies in China and the rest of the world
as the country modernized and grew rapidly. Companies like Evergrande, and Country Garden with the
demand for these houses that they would even sell them off plan before a single beam would be placed.
They would make money by developing pricey estates, and they would frequently take on a great amount
of debt to do so. Some estimates, that to finance these projects, which included offshore bonds, made
Evergrande one of the most indebted companies in the world, owing over $300 billion. However, the
most troubling aspect of all of this was a commercial paper list that took the form of IOUs that
Evergrande and other developers issued to contractors and other businesses in the construction supply
chain, which are used with a view as rock-solid. Now with the unemployment at 19% the economy
slowing down Covid nobody is buying property anymore creating a big collapse in real estate. Are those
the reason why China is so aggressive lately???
Conclusion
We can’t predict what the future is going to be, but the situation in China is very tense at the moment. As
we mention before the Real estate business is not going well which was one of the big GDP.
Unemployment at 19% (Age group 16-24) and the export slowing down puts pressure on Xi Jinping and
the Chinese people.
What this has to do with Crypto??

4. 4/4
Really simple if China goes down the economy will go too and with that Cryptocurrency. That is why we
are keeping looking at the economy to help you see things ahead and make the right investment. We will
keep you up to date whit everything Crypto relate & Guide you in the right direction.
Author: Francesco la Rocca
Disclaimer. CryptoNewSmart does not endorse any content or product on this page. While we aim at
providing you with all the important information that we could obtain, readers should do their own
research before taking any actions related to the company and carry full responsibility for their decisions,
nor this article can be considered investment advice
Sign up now: Get Smarter about Cryptocurrency with our weekly Free newsletter
Do you have any questions Reach out to us on any social media, we will do our best to respond After
you are Following Us 🙂
Under here we will share the same other post you might like
**This post contains affiliate links that will help me create new content without additional cost for you **
**I’m not a financial advisor **
DECENTRALIZED FINANCE (DeFi)
Top 10 Metaverse Coins to Watch in 2022