torsdag 2. april 2020

China's economy may not grow at all in 2020. That hasn't happened in 44 years

China's economy is showing some tentative signs of recovery from the devastation caused by the novel coronavirus pandemic but the path ahead remains hugely uncertain and growth could be entirely wiped out in 2020, putting millions of jobs at risk. GDP growth this year in the world's second biggest economy could sink to just 1% or 2%, down from 6.1% in 2019, according to recent estimates by analysts, including a Chinese government economist. In a worst case scenario, the $14 trillion economy may not grow at all, the World Bank warned earlier this week.

That would be its weakest performance in 40 years, worse even than the troughs hit during the 2008-2009 global recession and in 1990, when the West imposed sanctions on China after the Tiananmen Square massacre.