Two Indicators shaking China's economy : Planet Money Xi Jinping recently secured his third term as China's president – so we're looking at two shocks to the world's second-largest economy. First: How China's housing boom turned into a real estate crisis. Second: How the recent U.S. ban on selling advanced semiconductor chips to China could affect China's technology industry.

Two Indicators shaking China's economy

Two Indicators shaking China's economy

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JADE GAO/AFP via Getty Images
A general view shows Evergrande residential buildings under construction in Guangzhou, in Chinas southern Guangdong province on July 18, 2022. (Photo by Jade Gao / AFP) (Photo by JADE GAO/AFP via Getty Images)
JADE GAO/AFP via Getty Images

Chinese leader Xi Jinping recently secured his third term as president. In his reappointment speech, Xi talked about China's next chapter, and the challenges that lay ahead.

So today, we're checking in on the world's second-largest economic power. We'll examine two major shifts to the country's economy — one coming from within China, and one from the outside.

Shift number one: for the last several decades China has been undergoing such a pronounced housing boom that Chinese real estate actually became the world's largest asset class. But in recent years that market has started to show signs of breaking. The government there is trying its best to slowly let the air out of a financial bubble years in the making, but Chinese homebuyers are growing more and more frustrated.

Shift number two: The United States recently blocked China's access to advanced semiconductor chips. We look at what it could mean for China's tech sector and trade relations between the two countries.

Music: "8 Bar Cypher," "Groovy Little Penguins," and "Slush Puppy Soul."

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