Chinese Economy Sees Turbulent Week With Unemployment & Housing Market | EWTN News Nightly

About this sermon

It's been a turbulent week for the Chinese economy. As Xi Jinping's government looks to stop rampant deflation, they watched regional Asian rivals South Korea and Japan meet with President Joe Biden at Camp David late last week to usher in a new era of partnership. Former White House Deputy National Security Advisor and current Senior Fellow and Chair of the China Policy Initiative for the America First Policy Institute, Steve Yates, joins to explain his read on the Chinese reaction to the meetings at Camp David last week and whether or not he expects any counter measures from China's President Xi. In the United States, the fed has consistently raised interest rates to cool inflation, but in China, the opposite is happening. This weekend, their central bank cut a key lending rate to try to stimulate the economy. Yates shares how significant of a step this is. We're also seeing high unemployment rates, especially for young people in China and a crash in the housing market. Yates discusses what is happening in those 2 sectors. He fills us in on whether Americans and other economic powers so closely tied in the global market should be worried. ------------ EWTN News Nightly provides the latest news and analysis from a Catholic perspective. Join host Tracy Sabol, our Capitol Hill, White House and Rome Correspondents, as well as many other diverse guests daily, to get the latest from the U.S. and the Vatican on topics regarding our Catholic faith and interests. ------------- EWTN News Nightly airs on EWTN weekdays at 6pm & 9pm ET. ------------ Don't miss an episode of EWTN New Nightly. Get updates here: https://www.ewtn.com/tv/shows/ewtn-news-nightly ------------- Sign up today to receive the EWTN News Nightly newsletter: https://www.ewtn.com/enn ------------- Follow EWTN News Nightly on Social Media: Facebook: https://www.facebook.com/ewtnnewsnightly Twitter: https://twitter.com/EWTNNewsNightly Instagram: https://www.instagram.com/ewtnnewsnightly/ ------------- Subscribe to EWTN YouTube channel here: https://www.youtube.com/user/EWTN ------------- You can support the EWTN News mission: https://bit.ly/3qDR1qf