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- Chinese business owners and consumers told The New York Times they're concerned about the economy.
- China is dealing with declines in manufacturing and trade as well as record-high youth unemployment.
- Larry Summers said last week China's economic proespects had been "greatly exaggerated" in the past.
Chinese consumers and business owners are in a panic as the country faces economic headwinds and has even lost its status as the number one trading partner for the world's largest economy — the US.