US commerce secretary will visit China next week at a critical moment for the world's top two economies

US Commerce Secretary Gina Raimondo will visit China next week at a critical time for the world’s second-largest economy — and for the Biden administration’s relationship with the country and its leaders.

China’s economy is in trouble, and some economists and market analysts fear the contagion could spread beyond the country’s borders.

Chinese consumer prices are falling, a real estate crisis is deepening, exports are slumping, youth unemployment is at a record high and Hong Kong’s stock market has tumbled more than 20% from its January peak. Last week, the Chinese yuan fell to its lowest level in 16 years. While all that could help tame US inflation, it also raises the risk of a recession.