A long line stretched out in front of a grocery stand inside the apartment complex.
The day after the opening of the party convention, some areas of Zhengzhou, China, where the iPhone assembly plant is located, went into quarantine.
China’s economy is failing following the lockdown in Shanghai, production and consumption are shrinking, and even exports are not as good as they used to be.
Half of the college graduates are unemployed as the real estate bubble is about to burst as a ticking time bomb.
[리우치엔 / 중국 대학생 : 졸업할 때쯤 되니까 면접 봤던 회사들이 채용을 줄인다며 못 뽑겠다고 하더라고요.]
As a result, the third quarter growth rate announcement scheduled during the party congress was abruptly postponed.
Earlier, on the 14th, import and export statistics were not released without any warning.
It is interpreted as the intention of not wanting to spoil the feast with a disappointing economic report card.
[자오천신 / 중국 국가발전개혁위원회 부주임 : 3분기에 경제가 눈에 띄게 반등했습니다. 글로벌 관점에서 중국의 경제 활동은 여전히 두드러집니다.]
This year’s growth rate is expected to be only half of the original target (5.5%), but it is not an obstacle for Xi Jinping, who has effectively confirmed his third term.
The reason for this is that the long-term economic goals of the 10 years in force, such as ‘the realization of a society of total slack’, have been achieved early, and there is still time left for the 14th Five Year Plan to be settled in 2025.
Instead, he uses the international political and economic crisis, growing in uncertainty, as the cause of his long-term rule.
My name is Jeonggyu Kang from YTN in Beijing.
Cinematography and Editing: Go Gwang
Graphics: Jaeyong Choi
News Subtitle : Yoon Hee-jung
[저작권자(c) YTN 무단전재 및 재배포 금지]
