Coronavirus damage China's economy after decades

Coronavirus damage China's economy after decades

China's economy suffered losses in the first quarter after decades of coronavirus.

According to a report by the British Broadcasting Agency BBC, official data shows that the world's second-largest economy has shrunk by 6.8 percent.

China is the world's largest player in the world's production, exports, and imports, but in view of the Chinese economy, the Coronavirus has also raised concerns for other economies.

According to the report, this is the first time in the Chinese economy in the first three months of the year since 1992, when the loss was adjusted.

Yui Xu, a member of the Economist Intelligence Unit, said that "restricting GDP from January to March will have a lasting impact on the effects of bankruptcy and unemployment of small companies".

The report said that China's economic growth in the first quarter of last year was strong at 6.44 percent and that the economic war with the United States was going on and its effects were taking place.

Considering that China's annual growth rate has been around 9 percent for the past two decades, experts have been raising questions about the accuracy of the figures.

After the Coronavirus came out, China established long lockdowns and quarantine centers, introducing stringent measures to prevent the spread of the virus.

Economists believe that China's economy has worsened the economy, but the figures that have come out are far more than concerns.

According to a recent report released by China, factory output was up one percent in March, while life in China was gradually recovering.

Retailers' revenue fell 15.5 percent last month, mainly due to shoplifting in homes.



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