The home to about 3 million people in the northeast rust-belt province of Liaoning is ground zero in China’s slowdown -- the worst-performing city in the worst-performing province. China’s economy continued decelerating in the past three months, to a pace of 6.6 percent, according to the median estimate of economists surveyed by Bloomberg ahead of gross domestic product data due Friday. Under the hood of China’s steady grind lower is an increasing divide between the new-economy winners and old-industrial losers. "In reality, this process will take time, and China’s ailing rust-belt will require government support for years to come. Ads offering work visas abroad are peppered across hoardings, and billboards offer loans for people in "urgent need."

Source: Thanhnien News July 11, 2016 23:48 UTC