Coronavirus gives a big blow to China's huge economy
Monday - February 3, 2020 3:46 pm ,
Category : WTN SPECIAL
Coronavirus becomes havoc in China
$136 billion estimated to China’s economic loss due to Coronavirus
FEB 03 (WTN) - As you are aware that the global economic slowdown has affected the economies of the world to a large extent including India. The US-China trade war was also one of the many reasons responsible for the global economic slowdown, and for this reason, China's economy suffered a major setback. But after the recent trade deal between the US and China, it was expected that China, the world's second-largest economy would grow faster once again, recovering from the economic slowdown. But all the hopes of China have been shocked by the deadly Coronavirus, and due to Coronavirus, China's economy has lost millions of dollars.
For your information, let us know that 361 people have died so far in China due to the Coronavirus, a deadly infectious disease spread from the city of Wuhan in China, while more than 17 thousand people have been infected by the Coronavirus infection. Not only China but many countries of the world, patients infected with the Coronavirus have been identified. The devastation of the Coronavirus is killing the Chinese people, as well as the Coronavirus has caused a huge blow to China's huge economy.
According to the information received from the media, Chinese companies have made the lowest profit in four years in the year 2019. Let us know that industrial profits in China have come down by 3.3 percent to $ 897 billion, which is the biggest decline since 2015, and then a decrease of 2.3 percent in the profits of Chinese companies. According to experts in international trading, Chinese factories have suffered economic losses due to the US-China trade war. China is going through the weakest economic phase of the last 30 years due to other reasons including economic slowdown. A huge decline has also been registered in the profits of industrial companies in China from all these centers. At the same time, nearly 30 lakh crores of investors have sunk in the stock market in the last 30 days in China affected by the Coronavirus.
Let us know that since the beginning of the New Year, the stock market of China is undergoing a huge decline. The stock market has gone below 9 percent from the New Year to date, and for this reason, investors have lost about 30 lakh crore rupees. Not only this, due to many reasons, China's currency Yuan has also weakened 1.2 percent against the US dollar in the year 2020, and the deadly infectious disease Coronavirus is being said to be the biggest reason behind all this.
China's economy affected by the Coronavirus has become a challenge for its government. To accelerate the Chinese economy, efforts can be made by the Chinese government to increase demand by increasing cash in the market, and by increasing loan. But it is being said that the economy is unlikely to improve in the first quarter of 2020 due to the Coronavirus. According to experts, the Coronavirus is also a new risk for the economic development of China and other countries.
In the way, due to the Coronavirus, people are locked in homes in many cities of China, and work is stuck in business. In such a situation, it is being said that production in China will definitely fall even more, at least in the near future. At the same time, if production is low in China, it can also affect the production of countries like India, Russia, Japan, and South Korea. At the same time, if China's government fails to prevent Coronavirus infection, industrial production in China may fall further in the coming years, and China's economic growth rate in the first half of 2020 may be much lower than expected.
But due to the Coronavirus, the economy of China is also impacting the economy of other countries of the world. In fact, due to the panic of the Coronavirus, many countries of the world have stopped their airline services to China, and for this reason, many countries of the world have stopped their economic activities with China. At the same time, many big companies around the world have closed their factories in China for the next order due to the Coronavirus.
For your information, let us know that large quantities of imports and exports take place from China to many countries of the world. In such a situation, if industrial activity in China comes to a standstill, then it is bound to affect other economies of the world. According to an initial estimate of a report, China's growth rate due to the Coronavirus may decline from 0.5 to 1.0 percent. That is if China's growth rate is less by one percent, then it will cause the damage of more than $136 billion to China's economy.
FEB 03 (WTN) - As you are aware that the global economic slowdown has affected the economies of the world to a large extent including India. The US-China trade war was also one of the many reasons responsible for the global economic slowdown, and for this reason, China's economy suffered a major setback. But after the recent trade deal between the US and China, it was expected that China, the world's second-largest economy would grow faster once again, recovering from the economic slowdown. But all the hopes of China have been shocked by the deadly Coronavirus, and due to Coronavirus, China's economy has lost millions of dollars.
For your information, let us know that 361 people have died so far in China due to the Coronavirus, a deadly infectious disease spread from the city of Wuhan in China, while more than 17 thousand people have been infected by the Coronavirus infection. Not only China but many countries of the world, patients infected with the Coronavirus have been identified. The devastation of the Coronavirus is killing the Chinese people, as well as the Coronavirus has caused a huge blow to China's huge economy.
According to the information received from the media, Chinese companies have made the lowest profit in four years in the year 2019. Let us know that industrial profits in China have come down by 3.3 percent to $ 897 billion, which is the biggest decline since 2015, and then a decrease of 2.3 percent in the profits of Chinese companies. According to experts in international trading, Chinese factories have suffered economic losses due to the US-China trade war. China is going through the weakest economic phase of the last 30 years due to other reasons including economic slowdown. A huge decline has also been registered in the profits of industrial companies in China from all these centers. At the same time, nearly 30 lakh crores of investors have sunk in the stock market in the last 30 days in China affected by the Coronavirus.
Let us know that since the beginning of the New Year, the stock market of China is undergoing a huge decline. The stock market has gone below 9 percent from the New Year to date, and for this reason, investors have lost about 30 lakh crore rupees. Not only this, due to many reasons, China's currency Yuan has also weakened 1.2 percent against the US dollar in the year 2020, and the deadly infectious disease Coronavirus is being said to be the biggest reason behind all this.
China's economy affected by the Coronavirus has become a challenge for its government. To accelerate the Chinese economy, efforts can be made by the Chinese government to increase demand by increasing cash in the market, and by increasing loan. But it is being said that the economy is unlikely to improve in the first quarter of 2020 due to the Coronavirus. According to experts, the Coronavirus is also a new risk for the economic development of China and other countries.
In the way, due to the Coronavirus, people are locked in homes in many cities of China, and work is stuck in business. In such a situation, it is being said that production in China will definitely fall even more, at least in the near future. At the same time, if production is low in China, it can also affect the production of countries like India, Russia, Japan, and South Korea. At the same time, if China's government fails to prevent Coronavirus infection, industrial production in China may fall further in the coming years, and China's economic growth rate in the first half of 2020 may be much lower than expected.
But due to the Coronavirus, the economy of China is also impacting the economy of other countries of the world. In fact, due to the panic of the Coronavirus, many countries of the world have stopped their airline services to China, and for this reason, many countries of the world have stopped their economic activities with China. At the same time, many big companies around the world have closed their factories in China for the next order due to the Coronavirus.
For your information, let us know that large quantities of imports and exports take place from China to many countries of the world. In such a situation, if industrial activity in China comes to a standstill, then it is bound to affect other economies of the world. According to an initial estimate of a report, China's growth rate due to the Coronavirus may decline from 0.5 to 1.0 percent. That is if China's growth rate is less by one percent, then it will cause the damage of more than $136 billion to China's economy.
