China's financial system has slipped into deflation as client costs declined in July for the primary time in additional than two years.

Ballooning native authorities debt, weak import and exports, challenges within the housing market, and rising youth unemployment are all contributing to the nation's downturn.

On the Sky News Daily, Dominic Waghorn speaks to our Asia correspondent Helen-Ann Smith about why China's financial system is operating out of steam.

Plus, George Magnus, economist and affiliate at Oxford University's China Centre, talks concerning the potential impacts for the worldwide financial system forward of the G20 summit.

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Podcast producers: Emma-Rae Woodhouse, Sydney Pead and Soila ApparicioPodcast promotion producer: David ChipakupakuSenior podcast producer: Annie JoyceEditor: Paul Stanworth

Content Source: information.sky.com