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It’s a far cry from global financial meltdown of 2008, when China launched the largest stimulus package in the world and was the first major economy to emerge from the crisis.
Granted, the U.S. economy only grew 1.3% in the first quarter of 2023, but some observers believe that China’s slowdown is indicative of deeper problems that could soon emerge — problems that ...
The outbreak in January 2020 was the impetus for a broader pandemic; the World Health Organization formally declared a pandemic on 11 March. [2] In response, Xi Jinping's administration pursued a zero-COVID policy. On 23 January, amid a rising death toll, the Chinese government imposed a travel lockdown on Wuhan, confining citizens within the ...
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Analysts at Barclays said a 10 trillion-yuan fiscal package spread over two years would have a major effect on the economy, adding one full percentage point to growth, but that the plan was just ...
In May 2020, Chinese Premier Li Keqiang announced that, for the first time in history, the central government wouldn't set an economic growth target for 2020, with the economy having contracted by 6.8% compared to 2019 and China facing an "unpredictable" time. However, the government also stated an intention to create 9 million new urban jobs ...
China's leadership is relying on an export surge to revive slumping growth, but those policies won't extract the world's second largest economy from the malaise that it's in, a top China watcher said.
China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the ...