Bad Leadership

China’s economy shrinks in a first

The world’s second largest economy contracted 6.8% in the first quarter of 2020, the first such decline since it began reporting official statistics in 1992. Mass factory shutdowns and quarantines due to the coronavirus led factory output to fall 1.1% in March, retail sales to plunge 15.8%, and investment to drop 16.1% between January and March this year. This comes after China registered 6% growth in the last three months of 2019.

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