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Job Security Worries Perhaps Hampered Retail Sales

CHINA

One other factor to consider re: the soft retail sales print for August is the recent crackdown witnessed under the common prosperity mantra. The sudden strict crackdown in the tutoring/private education space has seemingly resulted in some unemployment according to our team in Beijing. This may result in less of a propensity to consume and more of a focus on savings given the potential for heightened job insecurity in sectors targeted by policymakers.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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