Impact of the COVID-19 Pandemic on the Chinese Economy
Impact of the COVID-19 Pandemic on the Chinese Economy

Author(s): Marcin Przychodniak, Damian Wnukowski
Subject(s): National Economy, Governance, Economic policy, International relations/trade, Economic development
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: People’s Republic of China; Chinese economy; COVID-19 pandemic; increase in unemployment; relations with foreign partners; impact of pandemic on the economy;
Summary/Abstract: In the first quarter of 2020, China’s GDP contracted by 6.8% year on year. China has never recorded such a poor result since 1992 when it started to report quarterly statistics. The protracted problems of the Chinese economy may not only lead to an increase in unemployment but also limit the country’s economic links with foreign partners. They will also create difficulties for EU companies because of lower sales on the Chinese market. Disturbances in the functioning of global value chains may lead EU companies to continue to move part of their production outside China.

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