China economy slows; officials say recovery ‘unstable and uneven’
China’s economy has grown at a slower rate than expected in the third quarter. According to official figures the world’s second largest economy expanded by 4.9 percent – down 3 percent from the previous quarter. Nationwide power outages and supply bottlenecks hurt factories while sporadic COVID-19 outbreaks have hampered consumer demand. The country’s largest real estate developer Evergrande is struggling to pay back $300bn worth of debt, fuelling fears among housing investors. Al Jazeera's Katrina Yu reports from Beijing, China. – Follow us on Twitter: https://twitter.com/AJEnglish/ – Find us on Facebook: https://www.facebook.com/aljazeera/ – Check our website: https://www.aljazeera.com/ #China #ChinaEconomy #ChinaGDP
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