China Economy Takes A Blow : Shock to China’s economy: China’s economy has suffered a major setback in the recent past. Do you know what is a major reason for the setback to the world’s second largest economy? Let’s know.
Talking about developed countries, China is considered second only to America. Along with this, China’s economy is also the second largest economy in the world. A good economy makes China develop as well as very strong. But the strength of China which is reflected in its economy, there has been a lot of change in that economy for some time. In the recent past, the Chinese economy has declined instead of growing.
China Economy Takes A Blow: Shock to China’s economy
China’s economy has suffered a setback in recent times. China’s economy has grown less than expected in the last three years due to the Corona epidemic, but China’s economy has been badly affected due to various waves of Corona in the last few years. Due to the different waves of Corona, along with the business sector of China, the IT sector has also been badly affected. Many people have lost their jobs and all these factors have shaken the Chinese economy.
Heavy decline in import-export
There are many reasons for the setback to China’s economy, one of which is the huge decline in the country’s import-export. There has been a decrease in production in the country due to Corona, which has affected the country’s imports. Not only this, there has been a huge decline in the country’s exports in the last three months. The decline in China’s import-export has also had a bad impact on the country’s economy.
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