China’s economy is contracting and this is not good for the global economy.

[Juggy777]

CHINA'S ECONOMY contracted 6.8% during the first three months of the year from the year prior – representing the country's first and largest reported economic decline since it began formally reporting data in the 1990s.

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them. Furthermore what do you’ll think that China should do at this stage to arrest this fall, and most importantly do you’ll believe that they’ll be able to repair their economy?.

Source:

https://www.usnews.com/news/national-news/articles/2020-04-17/chinese-economy-contracts-68-as-coronavirus-cases-revised-higher

[bitbunnny]

I still beleive that chinese economy will recover soon. Like many other economies in the world they are suffering at the moment and have the bigest GDP fall since 1992 but I think that unlike many economies in the european countries in the world they will be back to feet very soon and US and Europe will need much longer period of time so Chinese will have advantage once more.

[CHENIEN]

China is so impressive and many countries were amazed in the middle of their sudden liberation and totally, they were the first to hit by the impact of coronavirus but very fast to survive as if nothing which is envious because I think they seem to know the actual situation in advance and basically the number of confirmed cases is lower than which is compared to the US and Italy and it seems that the economy of China is the first poverty alleviation.

[jackg]

I still beleive that chinese economy will recover soon. Like many other economies in the world they are suffering at the moment and have the bigest GDP fall since 1992 but I think that unlike many economies in the european countries in the world they will be back to feet very soon and US and Europe will need much longer period of time so Chinese will have advantage once more.

I don't actually think this is the case.

We've seen china drop by about 26% and then rally back, we've seen Europe do the same and while I'm in no doubt Europe can fall further (potentially 25% - as estimated) the US may stand to lose a lot more... Grouping the two together disregards the semi-stable wealth production in Europe and the bubbled assets in the US.

[BIT-BENDER]

China are in trade with many countries and China gives out loans in much amount to countries so there economy has influenced in other countries. The pandemic was always going to compress every economy, to add the haven't even done too badly. After the covid 19 saga countries would take time to rebuild

[exstasie]

CHINA'S ECONOMY contracted 6.8% during the first three months of the year from the year prior – representing the country's first and largest reported economic decline since it began formally reporting data in the 1990s.

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them.

This is the first time in my lifetime that China's economy has ever contracted.

Consider that, and then remember this is China's official narrative. The reality is worse. China Beige Book estimates a 10-11% GDP contraction after surveying Chinese firms: https://www.reuters.com/article/us-china-economy-business/virus-had-eye-popping-impact-on-chinas-economy-beige-book-idUSKBN21A3R9

It's difficult to comprehend the scale of economic losses this entails. The stock markets are still in disbelief, bucking all the consistently horrible economic data, but the effects are being seen in crude oil prices, which is digging out new lows and looks to be on the edge of collapse. If the bottom falls out for crude oil, the US oil industry will collapse and the Fed will be faced with taking on incredible amounts of corporate debt to keep markets afloat.

Furthermore what do you’ll think that China should do at this stage to arrest this fall, and most importantly do you’ll believe that they’ll be able to repair their economy?

It's a mystery. We have no idea what's really going on inside China. The fact that the government is allowing this "second wave" narrative to take hold in the media tells me things are probably much worse than we think.

[HeRetiK]

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them.

I think it's the opposite way really, ie. a large cause of China's economy contracting being that all of their trade partners are economically crippled right now.

While I suspect that China will be quicker to get their production back up than most of the west, their market is likely to be impacted by decreased international demand. Both because China's main export markets will likely (a) take a little longer to recover and (b) try to increase domestic production wherever possible as to decrease the dependency on international trade.

[pugman]

Yeah no shit. Countries are pissed, UK, ITALY, USA have more cases of coronavirus all because of China. People are in lockdown everywhere except China. So if countries cant get rid of Coronavirus, they are gonna do the next best thing, doom China.

China's economy contracting is a bad thing for sure, because once we get out of this shitshow, things are going to be WAY WORSE, not only health wise, but for the economy as well. I would be lying if I said I am not scared about what 2021 is going to look like, because getting over from a pandemic could be either of the two things: The global economy ends up in a full fledged recession where we end in a doom and almost not be able to recover where millions die suffering from the bad economy, OR we somehow manage to survive through this and countries manage to pull through and we get back in track by 2022 at least. But the way things are going, it definitely seems like the first option is more likely to happen, so brace for impact,its going to be a rough ride.

[dothebeats]

The whole world is in shambles right now, and China is no exception. Also, most of the giant companies of EU and the US are already thinking of leaving their production and manufacturing bases in China for good, plus the fact that the whole world is looking down on China for selling defective gears against COVID-19. If this goes on for a couple of months, we might see the whole world take a hit as a recession follows. And for damn sure China isn't one to suffer from it but also the whole world. After the pandemic eases, the world would be rushing back at its feet to catch-up and repair the economy, which would not be pretty and easy.

[exstasie]

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them.

I think it's the opposite way really, ie. a large cause of China's economy contracting being that all of their trade partners are economically crippled right now.

While I suspect that China will be quicker to get their production back up than most of the west, their market is likely to be impacted by decreased international demand.

China's Q1 numbers are heavily due to the shutdowns themselves. The service sector was actually the hardest hit. https://www.reuters.com/article/us-china-economy-business/virus-had-eye-popping-impact-on-chinas-economy-beige-book-idUSKBN21A3R9

I expect the situation to continue deteriorating into Q2 due to the lack of export demand you mention.

Lots of people around here still seem to believe the Chinese government narrative about a miraculous V-shaped recovery in Q2. I'm very skeptical. In fact, I would say markets across the world are way too overconfident in a swift economic recovery. That goes for the US and Europe too.

[Ems439]

I think 80% of the world are facing the economics crisis,but in China I don't think so if they face hard for thier econics..despite the corona virus attacked thier country still they are afford to send the donation for many country's..so I think thier economics are not down tooucb unlike other country

[Ibizugbe1]

The economy of China should remain strong otherwise this will affect the world economy because of the heavy dependent of the nations of the world for production. We should learn to decentralize production in China, should this kind of Pandemic happens again, the world will be on her kneels if production remains centralized.

[Darker45]

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them. Furthermore what do you’ll think that China should do at this stage to arrest this fall, and most importantly do you’ll believe that they’ll be able to repair their economy?.

How on earth could the Chinese economy remain strong despite this virus? You have to remember that this virus originated from China itself. It is where the first epicenter was. China was the first country where the virus killed a lot of people, caused lockdowns, closed shops, cancelled shipments of goods, and so on and so forth. If all these things wouldn't cripple China's economy, they must be gods. There is nothing stunning in the fact that China's economy is contracting in the face of this crisis.

[sunsilk]

They will be the first to recover. I don't know if the news that I've heard and once read is true that most of the stocks on the EU and US have been bought by them during the dip. I can't support that claim because I'm not into those stocks.

Also, there's this issue that I've heard too that some of the foreign businesses that are operating in China probably in the manufacturing sector are pulling out their businesses there. And this might be one of the reasons behind that contraction.

[davis196]

CHINA'S ECONOMY contracted 6.8% during the first three months of the year from the year prior – representing the country's first and largest reported economic decline since it began formally reporting data in the 1990s.

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them. Furthermore what do you’ll think that China should do at this stage to arrest this fall, and most importantly do you’ll believe that they’ll be able to repair their economy?.

Source:

https://www.usnews.com/news/national-news/articles/2020-04-17/chinese-economy-contracts-68-as-coronavirus-cases-revised-higher

The western economies(and all the other economies in the world) are going down.China exports goods to the rest of the world.If the global economy goes down,the Chinese export will go down,hence China's economy will lower it's growth.We still don't know about the second wave of coronavirus happening in China.Is there a second wave and how big it is?Will it cause another lockdown?
The Chinese authorities lied about the covid-19 damages,let's hope they won't lie again.

[charlesmichel1]

Chinese economy is able to recover, but it will take some time. The world has never faced something like that pandemic before, so the economy repairing roadmap isn't clear yet.

[Wexnident]

How on earth could the Chinese economy remain strong despite this virus? You have to remember that this virus originated from China itself. It is where the first epicenter was. China was the first country where the virus killed a lot of people, caused lockdowns, closed shops, cancelled shipments of goods, and so on and so forth. If all these things wouldn't cripple China's economy, they must be gods. There is nothing stunning in the fact that China's economy is contracting in the face of this crisis.

Let's not even mention the duration. Just a single month of shops closing down could bring about massive changes to the Chinese economy. There's also the expenses that the government has spent towards helping those involved in the quarantine/lockdown to survive. There's also another issue, China was pretty much the cause of the massive damages literally every country in the world has experienced. Just look at how much damage it has caused to US, Italy, etc. And China has no excuse here. China has suffered damages yes, but other countries have suffered more compared to China, and it isn't even their fault. Especially now with how countries are seeing the lifting of lockdowns in China. There'd probably be no change sin the next few weeks cause the other countries are trying to contain the damages, but after that, they'd probably want an answer from China.

[leyton11]

CHINA'S ECONOMY contracted 6.8% during the first three months of the year from the year prior – representing the country's first and largest reported economic decline since it began formally reporting data in the 1990s.

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them. Furthermore what do you’ll think that China should do at this stage to arrest this fall, and most importantly do you’ll believe that they’ll be able to repair their economy?.

Source:

https://www.usnews.com/news/national-news/articles/2020-04-17/chinese-economy-contracts-68-as-coronavirus-cases-revised-higher

This is a matter of condemnation for the Chinese government. After this great pandemic with many doubts about the spread of viruses in China, many foreign investors withdrew capital from Chinese enterprises and invested in other countries. It seems that the Chinese government is aware of this and is trying to hide true data about people infected and coronary deaths. They are doing everything to make the data look nicer and entice foreign investors to keep their capital. A few hours ago I received a news in China about the government forced many factories to operate again without orders. And soon, people burned down many factories. I cannot cite the link because it is a foreign newspaper, but my words are true and China's economy will face many difficulties if it continues the persecution.

[abhiseshakana]

CHINA'S ECONOMY contracted 6.8% during the first three months of the year from the year prior – representing the country's first and largest reported economic decline since it began formally reporting data in the 1990s.

I have till date believed that the Chinese economy was going to remain strong despite the virus crisis, but I’m stunned to see that their economy is contracting, and I believe this will impact each and every country’s economy who trade a lot with them. Furthermore what do you’ll think that China should do at this stage to arrest this fall, and most importantly do you’ll believe that they’ll be able to repair their economy?.

Source:

https://www.usnews.com/news/national-news/articles/2020-04-17/chinese-economy-contracts-68-as-coronavirus-cases-revised-higher

I think the Chinese economy contracted to below zero in Q1 is reasonable because since the end of December when the plague boomed until the lockdown opened at the end of March, the euphoria of the preparation of the Chinese New Year holiday which in fact failed due to covid-19 and the extension of the Chinese New Year has made the economy slow down and even die. Not only in China but throughout the world. The main cause comes when the coronavirus outbreak cripples production and spending and increases pressure on governments to do more to stop the increase in job losses.

It is difficult to realize the growth of the after pandemic effect, realistic economic growth targets must be made so that the government does not spend a lot of money on infrastructure investment policies, reduce unemployment or improve people's livelihoods in the short term, which in fact brings disaster to the economy.

It is not only China that will face the after pandemic challenge. China was lucky because it entered the pitstop first. Like a factory engine that is turned off when it will turn it on again requires effort and acceleration. After the pandemic effect ends in China, it is impossible for China's economy and manufacturing to run 100% immediately. The case of corona from outside (imported case) also made China afraid of the second wave of corona and made consumption and domestic demand far from normal.

I was able to contact some of my seafood buyers there and ask how was the condition there? They explained that there was indeed a lockdown in Hubei but in other cities, everything went as usual. Demand for crabs and lobsters that were previously stopped because Corona has begun to reopen and prices have begun to rise.

As long as the project is still running, China will be fine. Too big too fail for China with all its strategies and big ambitions not only for prestige in the global world but survival for the Chinese people whose numbers are jumbo. It is possible that the news of this contraction in the blow-up to improve the image of China in the international world that after bleeding China came out as a winner. The issue of contraction is used to create the dramatic effect of China's victory in drama from victim to global hero.

[michellee]

I am sure not just China that will be recover, but the other country who gets the effect of coronavirus will try to recover, especially if the country has to get lockdown. They will try to solve some main problem first in their country, and after that, they will try to solve the problem with the outside of their country and will try to make sure it can work properly as before. Maybe that would need months to see it will fully recover, and maybe there will be a changed regarding the current situations because the recovery process will not bring them to the old conditions.