Jul 14, 2022
In Fashion Forum
China, and for this reason, Chinese leaders have adopted very strict quarantine measures to deal with the emergence of even the smallest new chains of infection, such as currently in Jilin in the northeast. Such measures, of course, also affect the country's economic recovery. In the first quarter of this year (2020), China's economy fell by 6.8% year-on-year. This is unprecedented in China's post-Mao era. Given that the many economic and social consequences of the crisis, As well as the political ghost mannequin effect service response, have yet to be clarified, the public in China and around the world is anxiously awaiting new announcements from the National People's Congress. The meeting will formally adopt the resolutions previously made by the CCP leaders. Thin "Umbrella" Experts estimate that China's lockdown measures could put as many as 30 million residents in an economic crisis, including migrant workers in cities not included in official unemployment statistics, as well as small business owners and their employees. Many economists estimate that the recovery of purchasing power and demand will largely determine the recovery of China's national economy and ultimately the recovery of the world economy mired in a global recession. However, Chinese leaders are now offering far less aid to businesses and finances than abroad. According to The Economist, China's aid is only about 3 percent of GDP, while the German government's umbrella for German companies is equivalent to about 15 percent of GDP.