The hit to the Chinese economy in the first quarter was "devastating," according to Ting Lu, chief China economist for Nomura. "In our view, the only question is how negative [Q1 GDP] will be."
But analysts said the recovery is likely to be very weak given a spike in Chinese unemployment, which will depress consumer spending, and the global spread of the virus, which will hold back exports even as factories return to normal operations."This is not the end of the nightmare," Iris Pang, chief Greater China economist for ING, said in a report on Monday."The spread of Covid-19 ...
Nomura's Lu warned there was a risk of a second outbreak of the coronavirus because of the global pandemic and the urgent need for China to restart its economy.China will roll out stronger relief measures to counter the virus' impact, Mao Xinyong, a spokesman for the National Bureau of Statistics, said Monday at a press conference that accompanied the release of the shocking data.
Source: Financial Digest (financialdigest.net)
Good on China!! Relax, if it’s made in China, it won’t last🤷♂️
Hard to feel sorry for the authoritarian nation that is the origin of the virus, tried to cover it up and is now blaming the American army for starting the virus....China is responsible for thousands of people getting sick and thousands dying.
Yes especially when Trump coined the term 'Chinese virus' Things might get interesting....
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China reports Jan-Feb economic activity worse than expectedChina's consumer spending and factory activity fell more than expected in January and February as it fought a virus outbreak, prompting some forecasters to warn this year's economic growth might slump to its lowest level since the 1970s. So what you’re saying is the shelves in Canadian grocery stores will be stripped off and everything shipped back to China? 🤔 Because they r lying.
Source: CTVNews - 🏆 1. / 99 Read more »
Apple temporarily shuts stores outside China to fight virusTech giant Apple is closing its stores outside of China for two weeks and will only sell online as part of efforts to fight the global viral pandemic.
Source: CTVNews - 🏆 1. / 99 Read more »
Lockdowns erupt as world infections surpass those in ChinaMonday marked another milestone in the global battle to outwit the new coronavirus, as reported infections in the rest of the world overtook those in China. Because China shut down to prevent the spread... We're all out here still spreading it and planning stupid street parties. I don’t get why construction workers are still working. Hundreds are in the same buildings working closely together. They’ve closed and stopped pretty much all others from working. But these guys get left out to fend for themselves. And I’ve heard many who are concerned. onpoli China has been locking its citizens inside their own homes by welding their doors shut from the outside
Source: CTVNews - 🏆 1. / 99 Read more »
This week on ‘Focus Montreal’: March 15, 2020This week on Focus Montreal, Global takes a look at the novel coronavirus outbreak and its impacts on our day-to-day lives, tourism season and the economy.
Source: GlobalNational - 🏆 81. / 51 Read more »
Lockdowns erupt as world infections surpass those in ChinaMonday marked another milestone in the global battle to outwit the new coronavirus, as reported infections in the rest of the world overtook those in China. Because China shut down to prevent the spread... We're all out here still spreading it and planning stupid street parties. I don’t get why construction workers are still working. Hundreds are in the same buildings working closely together. They’ve closed and stopped pretty much all others from working. But these guys get left out to fend for themselves. And I’ve heard many who are concerned. onpoli China has been locking its citizens inside their own homes by welding their doors shut from the outside
Source: CTVNews - 🏆 1. / 99 Read more »