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Coronavirus: think the worst is over for China’s economy? Not so fast
The Chinese economy’s plunge into negative growth is its first since it began its meteoric rise four decades ago. However, even with its record 6.8 per cent contraction in gross domestic product in the first quarter of this year, the world’s second-largest economy still might outperform its developed peers, such as the European Union, the United States and Japan, all of which are expecting their greatest economic crises since the Great Depression in the 1930s. Indeed, the Chinese collapse is likely to foreshadow even more painful scenarios for all the major developed economies.China’s economic slump at the ... (full story)