First two months of 2020 more volatile than usual for China’s economic activity due to a week-long lunar new year holiday and the coronavirus epidemic
The holiday, as well as quarantine and containment measures, shut down much of the economy for weeks, disrupting travel, production and transport, and the economy is still struggling to return to pre-virus levels even as the government pushes companies to restart.
“China’s economic growth mainly relies on exports, real estate and infrastructure. The outlook of exports and the property market this year isn’t so optimistic, so China will likely ramp up infrastructure investment.”Imports of commodities rose, with purchase of soybeans up 14.2%, iron ore rising 1.5%, coal climbing 33.1% and liquefied natural gas increasing 2.8%. The overall trade balance fell to a deficit of $7.1bn for the first two months.
“The growth in imports from the US is pushed by the phase-one deal,” according to Zhou Hao, an economist at Commerzbank AG in Singapore. “The reason that imports were better than exports overall is that the main problems for China are on the production side.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zweli Mkhize appeals for calm as SA reports first coronavirus caseHealth minister says SA has only one case so far ; rand drops to its biggest loss in more than four months
Read more »
'I'm as fit as a fiddle', says doctor who saw SA's first coronavirus patientThe doctor of a private practice in Hilton, in the KwaZulu-Natal midlands, who saw SA's first confirmed conronavirus patient, says she is as fit as a fiddle.
Read more »
First SA corona patient, doctor, and family in quarantine - The Mail & GuardianThe health minister is positive that all those who came into contact with the infected Durban man will be identified and quarantined
Read more »
POLL | First coronavirus case confirmed in SA — how will you protect yourself?The first SA man to be infected with the virus is being quarantined at his home in Hilton, near Pietermaritzburg
Read more »
WATCH: Harry and Meghan attend their first engagement back in the UK – and witness a proposal!Harry and Meghan had a rather eventful start to their farewell visit in the UK.
Read more »
Ten hilarious responses to SA's first coronavirus caseThe 38-year-old man, who is the first South African confirmed to be infected with the virus, is in quarantine
Read more »