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China's economy slows down due to coronavirus quarantine
China's economy slows down due to coronavirus quarantine

According to official data, the peak of the coronavirus in China has passed and life in the  country is getting back to normal. The epidemic has had a negative impact on China’s mid-term performance. The Chinese economy showed the weakest results in the first two months of 2020. Thus,in the given period, the country’s industrial production fell by a record 13.5% year-on-year to its lowest level in 30 years.  In December, before the coronavirus outbreak, the Chinese industrial production increased by 6.9% while exports plunged by 17.2%. It will take a lot of time for the Chinese economy to recover. Moreover, it is too early to say that the coronavirus outbreak has already stopped in China. As a result, it is better not to expect the economy to recover in the short term. In any case, China will have to prepare for difficult times as, due to the outbreak of COVID 19, the country's government has faced not only economic, but also serious political problems.


Published: 2020-03-23 05:55:57 UTC
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