Weak demand now stands in the way of China’s economic recovery from the coronavirus crisis

There are three phases in China’s economic evolution as it weathers the Covid-19 pandemic. The first was the initial “plunge”, reflected in the economic paralysis caused by the rapid spread of the virus and Beijing’s draconian measures to contain it.Gross domestic product contracted by a record-setting 6.8 per cent in the first quarter of this year, making the peak-to-trough decline – from growth of 6 per cent in the fourth quarter of 2019 to the current contraction – almost three times the…

Read the original article at South China Morning Post