China’s economy has slipped into deflation as consumer prices declined in July for the first time in more than two years. Ballooning local government debt, weak import and exports, challenges in the housing market, and growing youth unemployment are all contributing to the country’s downturn. On the Sky News Daily, Dominic Waghorn speaks to our Asia correspondent Helen-Ann Smith about why China’s economy is running out of steam. Plus, George Magnus, economist and associate at Oxford University’s China Centre, talks about the potential impacts for the global economy ahead of the G20 summit. Click to subscribe to the Sky News Daily wherever you get your podcasts Podcast producers: Emma-Rae Woodhouse, Sydney Pead and Soila ApparicioPodcast promotion producer: David ChipakupakuSenior podcast producer: Annie JoyceEditor: Paul Stanworth Advertisement This article was originally published by Sky.com. Read the original article here. Post navigation Cancer cases grow by 79% in young people – as ‘alarming’ study suggests key reasons Body of child pulled from sea off southern Ireland