China’s economy the down affected by coronavirus. In the domestic market, the country has reduced sales. The IMF says financial losses have already exceeded $530 billion. The IMF chief assured China of cooperation in this situation.
The loss is not just due to the virus transmission, but to China, it has to pay a large number of financial costs to prevent its spread. they have been isolated from the international market. There is a big push in the country’s import-export trade.
There are strict restrictions on the departure of the city from where the virus originated. Wuhan has a population of 11 million The blockade is now not only in place, but the same sanctions have been imposed in other areas of Hubei province. Accordingly, all business travel is shut. The development of products and laborers has likewise halted.
Kristalina Georgieva, Director-general of the IMF
Kristalina Georgieva, director-general of the IMF, said that in almost all countries of the world, Chinese companies supply raw materials, products of various products and essential components of various projects. But the program is stopped due to coronavirus. People from China working on multiple development projects in developing countries. Due to their absence, their work is closed.
Coronavirus terror house arrest, people from some provinces in China. Sales of daily commodities in local markets have dropped, almost to the quota of zero. This has had a huge negative impact on the overall economy of the country. Imports and exports from China to other countries have fallen. International Monetary Fund says, in the last few weeks, the financial loss caused by the coroner’s stagnation in international trade is $ 120 billion.
The number of coronaviruses infected and dead is increasing every day. The devastating virus not only put China at health risk, it also had a profound impact on the country’s economy. Coronavirus has spread to 85 countries worldwide. The death toll is rising. In China, 30 people have died. The loss of life is rising in America also. So far there have been 12 deaths. The loss of life in South Korea is 42. On the other hand, the number in Iran is 107 dead. There are also increasing numbers of coronavirus victims. In Iran only, about 3,000 people have been infected with the coronavirus. Schools, universities have been closed there. Checkpoints have been set up in different cities so that the rush can be made to transport citizens. Citizens have been instructed to use ‘paper money’ less. The death toll in Italy is 148. So far, 3406 people have been killed in the virus. About 100,106 people were affected.
Coronavirus Genetic circle
Harvard China Fund Director William C. Kirby said China’s economic downturn has a negative impact on global GDP. China has stopped all export and import operations of raw materials. As a result, total production and exports to other countries are being disrupted.
It has been reported that in the last four years, the amount of profit has suddenly decreased in Chinese companies. In other countries, companies from other countries have also closed offices in China in the wake of the virus. Taking all the staff back from there. The stock market in Communist China has also witnessed major declines. Economists say only the Coronavirus lost $420 billion in the past month.
On the one hand, Coronavirus controls the situation and tackle the economic crisis on the other. The Chinese government is going through a difficult time. The IMF chief assured of cooperation in implementing various steps taken by the Chinese government to overcome this situation. IMF Director Kristalina Georgieva said China’s domestic and foreign trade policies are very strong. I believe Beijing will take effective steps to resolve the crisis soon. The IMF will assist in implementing them.