CHINA’S ECONOMY IS IN DANGER OF SHRINKING


16/04/2020




Serhat TUNAR -TDO- In China, the country where the Coronavirus outbreak originated, the economy is forecast to shrink for the first time in the past 30 years for the quarter-year period.

China's economy is expected to shrink by about 8 percent in the first quarter of 2020, French news agency AFP quoted 15 experts as saying. The Chinese economy had not shrunk in the quarter annual reports, which began to be prepared from the early 1990s onwards.

According to AFP's assessment, China's gross national product is also projected to grow by 1.7 per cent at the end of the year. Last year's growth was recorded at 6 per cent.

If the assessments of experts referred to by AFP prove correct, China's economy will grow by just 1.7 per cent at the end of this year, the lowest growth rate since 1976, the year that Mao Zedong, the head of the Chinese Communist Party, died.


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