China’s GDP decreased in April—June yoy, which indicates the start of the recession in the world’s second largest economy. To such conclusion experts of the company China Beige Book International (CBB International), reports Bloomberg.
the study highlights that the main economic indicators of China, including the profit of industrial companies, capital expenditure and retail sales remained at historically low levels in the second quarter and has improved only slightly compared to the figures of the first quarter, said PRIME.
In the first three months of this year, China’s GDP has fallen under the influence of the epidemic coronavirus infection COVID-19 from 6.8% in annual terms for the first time, the Chinese economy went negative since 1992.
Meanwhile, senior EU officials warned the leaders of China, that the impossibility of further opening of the Chinese economy for European companies and fair treatment of foreign firms may lead to the deterioration of relations between the two trading partners. This warning is a signal about the toughening of the positions of the EU towards Beijing, indicated by “Finmarket” with reference to the publication of Dow Jones.
the Relationship between Europe and China in recent months has deteriorated. The EU accuses China of spreading misinformation about the situation with coronavirus and cautions from Beijing tightening control over Hong Kong.
Recall that the outbreak of pneumonia caused by a coronavirus infection (COVID-2019), was formally recorded in December 2019 in the Chinese city of Wuhan. March 11, 2020, the world health organization (who) officially recognized the situation with coronavirus pandemic. To date, cases of infection were recorded in almost 200 countries and regions of the world. In General, the number of infected COVID-2019 in the world exceeded 9 million people, died more than 472 thousand. The pandemic has had devastating effects on the world economy. Under the powerful kick hitand many industries, including transport, tourism, hospitality, automotive, construction, retail, and entertainment.
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