A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Thursday, February 29, 2024

China’s virus-hit economy shrinks for first time in decades

China’s economy shrank for the first time in decades in the first quarter of the year, as the virus forced factories and businesses to close.

The world’s second biggest economy contracted 6.8% according to official data released on Friday.

The financial toll the coronavirus is having on the Chinese economy will be a huge concern to other countries.

China is an economic powerhouse as a major consumer and producer of goods and services.

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