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China's economy suffers from the fault of China's leftist government

Saturday - February 15, 2020 11:42 am , Category : BUSINESS
China's economy severely affected by the Coronavirus
China's economy severely affected by the Coronavirus

Coronavirus 'stunted' the Chinese economy 

FEB 15 (WTN) - Coronavirus (COVID-19) infection spread from the Wuhan city of China is becoming an epidemic in China and killing people. According to the information from the Chinese government, so far, around 1,500 people have been killed by the Coronavirus, while more than 63,000 people have been infected with the Coronavirus infection. Let us know that many cities of China, including Wuhan, have been locked down, that, is people are not leaving their homes in these cities. Factories, plants, and industries in China have been closed for several days due to the Coronavirus infection. At the same time, many countries have limited imports and exports from China due to fear of the Coronavirus infection. For all these reasons, China's economy has been badly affected.

There is so much panic in China due to the Coronavirus infection that employees of almost all companies are not coming to the office due to fear, and these people are not leaving their homes. It is natural that there is a lot of impact on the production of companies due to the absence of employees in the office. In fact, since the outbreak of Coronavirus infection in China, life has been disturbed in a large part of the country. People working from the government departments to the private companies are now working from their own homes. Since the Coronavirus is transmitted from one person to another, the Chinese government has advised people not to gather in one place.

At the same time, schools and colleges, in China, have been closed till March. Not only this, but various museums, cultural sites, and tourist places located in China have also been closed. Even many hospitals are closed in many places. Let us tell that in Wuhan and Hubei province of China, patients, suffering from the Coronavirus, have been found, after which the government has banned the entry of outsiders in these cities taking strict steps. There is so much fear of the Coronavirus that roads and malls are empty in many cities of China, where thousands of people once used to gather.

For your information, let us know that China is the second-largest economy in the world. China has a big trade with almost all countries in the world. In such a situation, there has been a recession in markets all over the world once the production due to the Coronavirus has been affected in China. As far as India is concerned, India has a multi-million dollar trade relationship with China. But due to the Coronavirus affecting industrial production in China including agricultural production, The Indian market has also slowed down. Explain that due to the production affected in China, palm oil prices have fallen drastically, due to there has been a slowdown in all oil-oilseeds in India. But due to this reason, the problems of farmers in India will increase, because the farmers of Rabi season crop mustard and other oilseed crops will not be able to get a fair price.

The automobile industry of China has also been badly affected due to the panic of the Coronavirus infection. According to information, in the year 2020 in China, there are fewer sales of at least 1 million units in the automobile sector. According to statistics, the annual sales of vehicles in China, in the month of January, have fallen by 18 percent to 19 lakh 40 thousand units, and the sale of new-energy vehicles declined by 54.4 percent to only 44,000 units. For your information, let us know that from China, raw materials were supplied to many pharmaceutical companies from many countries of the world including India. But all of China's major pharmaceutical companies are based in Wuhan city and are currently locked up due to the Coronavirus. In such a situation, Chinese pharmaceutical companies are also facing losses.

According to an estimate, the Chinese economy may suffer a loss of about $ 150 billion in the early stages due to the Coronavirus infection. Coronavirus infection has spread so much in China that it can cause China's economic growth rate to fall by 1 to 1.5 percent. Actually, Coronavirus infection has spread so much due to the mistake and negligence of the leftist government of China. Since there is media restriction and censorship in China, the whole world is not able to know the correct news related to the Coronavirus.

But some foreign media reports claim that the death toll from the Coronavirus infection in China is more than 30,000. And this infection has engulfed more than one lakh people in China. But if China is not able to control the Coronavirus infection in time, then the foreign trade happening with China will come down to the lowest level in the coming time, in such a situation, it will be a big blow to China's economy. Exports have a huge contribution to China's economy, so if exports are limited or closed, it will cause such a huge loss to China's economy that it will take a long time for China to make up for it.