Corona virus has left the global economy in scrambles. While much of the world is falling under a deep recession, China’s economy is the only major economy in the world seeing growth.
The world’s 2nd largest economy is expected to grow by 1.6% this year, while the global economy is projected to contract by 5.2%, according to World Bank.
How China Achieved it?
China built its relatively quick recovery through several measures, though China is often accused of intentionally spreading the virus.
China imposed some of the most controlled lockdown throughout the globe and even tracked populations within the country. While the process seems to violate human rights and seems undemocratic, it worked like a charm.
The Government also offered incentives to public to stimulate spending.
The nation also set aside hundreds of billions of dollars for major infrastructure project, that increased Government spending that led to boost in its economy.
China’s economy is expected to be worth about$14.6 trillion by the end of 2020, roughly equivalent to 17.5% of global GDP.
While the global economy is falling and the country’s corona infection has been increasing globally, the infection and deaths figures of China seems to be a fraud.
Nonetheless, it is the only major economy seeing growth and has been accused for deliberately spreading the virus to the whole world.
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