this post was submitted on 27 Jun 2023
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Australia needs China's economy to bounce back, but youth unemployment and low consumer confidence suggest it'll take time (www.abc.net.au)
submitted 1 year ago by a1studmuffin@aussie.zone to c/ausfinance@aussie.zone
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Ouch, 20% unemployment in China is rough. How tied to China's economic outlook do you think we're going to be in Oz?

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[–] cccc@aussie.zone 2 points 1 year ago

20% youth unemployment. It’s not a total figure, only a sector. The average urban unemployment rate is only around 5% as per the story.

[–] JayPenshar@aussie.zone 2 points 1 year ago

Australia always needs to be weary on how much we tie ourselves to Chinese economy. It has burnt certain sectors when they haven’t diversified their trade partners enough in the past and china whacked on trade restrictions.