Question: write a 4 paragraph essay on the impact on CHInas economy during COVID-19. Pre-COVID 19: Since the economic reform and opening of the Chinese economy
write a 4 paragraph essay on the impact on CHInas economy during COVID-19. Pre-COVID 19: Since the economic reform and opening of the Chinese economy in the late 1970s, economic growth in China has been in the range of 9%-10% annually on average, regarded by many as the "China Miracle." During-COVID-19:After the outbreak of COVID-19 in December 2019, the normal economic growth of 6% suddenly dropped to 2.2% in 2020. The unprecedented pandemic hindered consumer demand, production, investment, and international trade. gross domestic product (GDP) of China dropped to 6.8% during the first quarter of 2020, as businesses remained close during the initial phase of the pandemic. Wholesale and retail were the most adversely affected sectors, contracting by 17.8%
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