China: Back to the Grind (SHORT)

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China:

Morgan Stanley scenario:

Chinese stock indexes could plunge by another 20% from current levels over the next six to 12 months — and potentially remain lower for much longer if the hypothetical stress scenario persists.

China’s GDP could slow drastically, averaging 2% growth in 2023.

More than 11 million people could lose their jobs, likely sending the urban unemployment rate above 7%. Construction, accommodation and catering would see the most job cuts.

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