Since the start of the Corona virus worldwide earlier this year, China has become the first major economy to resume God’s growth for the first time. The world’s major industrialized nations have entered a phase of shutdown due to the outbreak of the Corona virus, and their economies will need years to return to normal to offset the economic losses of this biological crisis.
*** The Chinese government’s performance in dealing with the corona
To curb the spread of the virus, the Chinese government imposed heavy quarantine on January 23, 2020, in Wuhan City, the capital of Corona, and other cities in Hubei Province, and strictly curbed all routes of widespread outbreak throughout China. Soon, and as soon as possible, strict laws were enacted throughout the country. Many factories closed in February, leading to a short-term decline in the Purchasing Manufacturing Index (PMI).
The closure of the “World Factory” had severely disrupted the global supply chain, especially car production. In March 2020, a small number of industrial sectors in the country reported positive production growth, which was due to their good performance before the coronavirus outbreak. The pharmaceutical sector recorded an increase in production, largely due to global demand for critical medical equipment. China has exported more than 7 billion yuan in face masks, and in this regard, it has been able to maintain the dynamism of its economy.
*** Unhealthy economic situation in the service sector
Apart from the manufacturing industry, the prolonged closure of businesses and economic activities had caused significant damage in various sectors in China. The country’s tourism services sector was hit by a sharp drop in flight ticket sales and hotel occupancy. The country’s domestic tourism market predicts that by the end of 2020, only 20% of the previous year’s revenue will be realized for this industry. Industry experts predict that the global tourism industry could lose about $ 2.5 trillion by the end of this year.
*** Curbing the coronavirus in the Chinese economy
On Thursday last week, Chinese officials announced that its economy had grown 3.2% in the second quarter from a year earlier, as officials launched an offensive campaign to eradicate the virus at the country’s borders, which in fact Implemented and operationalized, and was able to keep the economic activities of this country active in ports, borders, customs, and industrial factories to continue their activities without restrictions caused by this biological crisis, and the process of export and import of the country was followed in the best possible way. And foreign exchange and investment by Chinese capitalists resumed four months after the restrictions were lifted, paving the way for a positive economic growth index.
According to data released by the Beijing National Bureau of Statistics, China’s second-quarter GDP growth was 11.5 percent year-on-year. In the first six months of the year, China’s economy shrank by only 1.6% compared to the first half of 2019, which seems insignificant and ideal for a country facing a corona crisis for the first time.
*** China’s economic growth index
Economists’ estimate of second-quarter growth for the country’s economic index jumped close to 2.6 percent, and was at the bottom of a wide range of forecasts as analysts commented on many hidden items in China’s economic policy. There was no shawl, and this is an issue that has condemned the Chinese for the spread of coronary heart disease, and there has never been a response to this scenario from the Chinese.
Despite these conditions, analysts shifted China’s recession from a 3.1% contraction to a 3.5% increase in their calculations as the realities of corona control in China are felt and observed in the country’s manufacturing output. Beijing was very strong in the face of the corona, recording a historic 6.8 percent recession early in the year and in the first three months of the current year, which led to the collapse of the country’s productive economy. Sadef was at a time when Beijing closed the country in late January as the Corona virus spread from Wuhan City across China.
*** Evaluation of job index in China economy
An independent survey of more than 3,300 jobs in the country between August 13th and September 12th shows that the story of economic growth has unfolded in all parts and provinces of the country, and some have been established, and the growth trend is steadily growing. Is increasing. In the coastal areas of China, which are the pulse of the Chinese economy, the flow of capital is stronger and the unemployment rate in these areas is declining.
For large corporations and multinational companies operating in these areas and those operating in large areas around the three beaches surrounding Shanghai and Beijing, as well as Guangdong, all indicators of economic growth and productivity are observable and concerns. The supply of basic goods such as raw minerals, steel and iron ore has been reduced to a minimum since the closure of customs and the closure of the canteen. It should be noted that this part of China is home to the best and most industrial factories in China, and the continuation of the good situation in these areas will help China’s economic index to grow as much as possible.
*** Improving Beijing’s economic situation
This public figure narrates the improvement of Beijing’s economic situation. In the rest of China, which has a large number of companies and factories, the situation is improving, but definitive indicators of their growth have not been received. But it is enough that many companies receive loans to compensate for losses caused by downsizing And they do not use early holidays because the liquidity in the factories is perceived to be such that the factory does not need government borrowing.
Although non-core companies earn and sell much less than their counterparts, they receive less investment and lending, indicating the relative independence of small and medium-sized enterprises in China, and likely in the coming months. The growing trend of these factories will be resumed.
According to the study, employment, a priority for China’s central government, saw strong growth in the third quarter. China’s industrial sector reported the fastest gains in hiring, while retail saw the largest improvement in sales volume and prices.
*** Bloomberg assessment of China’s economic growth
In its memo, Bloomberg analyzes that the countries that best control the spread of the coronavirus do not necessarily have enough interest in economic transformation and economic benefits. But an economic giant has had this success, and the success of those years will probably resonate, and this is the great giant of China.
Among the G20 members, which include the 20 most powerful economies in the world, only China recorded a declining corona rate in the early second quarter of 2020, and never did so in the United States. In the United States and Europe, where the virus later entered the country, improvements have been slow, and control of the situation is now fraught with challenges that have plagued parts of their economies. At present, China is the only member of the G20 that has been able to make a positive outlook for the growth of its GDP and industrial output, with strong performance.
*** China’s influence in the US election campaign
While all the world’s economies, including the economies of the world’s 20 most powerful countries, have been negative or registered very little economic growth this year, the Chinese economy has been able to maintain its positive trend for the 33rd consecutive year and be affected by external threats. Don’t be. This is not good news for the US economy and its political issues, and the Chinese presence in the Democratic campaigns may not be good news for the Trump administration, which is facing many challenges these days.
Even smaller countries such as Taiwan and New Zealand, which performed better and sometimes easier to control the coronavirus, are no better off than China’s economic figures, failing to improve their macroeconomic situation over China and creating a competitive advantage in the export market. Conquer China for themselves.
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