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Title : China's Attempt To Revive Its Economy Is Failing
link : China's Attempt To Revive Its Economy Is Failing
China's Attempt To Revive Its Economy Is Failing
In this April 13, 2020, photo, a couple walk through the capital city's popular shopping mall in Beijing. (AP Photo/Andy Wong)
FOX News/AP: China tries reviving economy after coronavirus lockdown but consumer engine sputters
Millions of workers are wary of spending much or even going out.
BEIJING (AP) — China, where the coronavirus pandemic started in December, is cautiously trying to get back to business, but it's not easy when many millions of workers are wary of spending much or even going out.
Factories and shops nationwide shut down starting in late January. Millions of families were told to stay home under unprecedented controls that have been copied by the United States, Europe and India.
The ruling Communist Party says the outbreak, which had killed more than 3,340 people among more than 82,341 confirmed cases as of Thursday, is under control. But the damage to Chinese lives and the economy is lingering.
Read more ....
WNU Editor: All my friends and contacts in China are telling me the same thing. Nothing is moving in the economy, and they do not see any improvement in the future. They are also not interested in starting new projects and/or investments. Their mindset is to "circle the wagons" for this year, and hope that the situation improves next year. According to other reports, European countries are also facing the same problems in restarting the economy .... 'We are in Crisis Mode': China, Europe Show Restarting Coronavirus-hit Economies Not Easy (AP). I expect the same economic reports will be coming from Canada and the U.S. in the next month or two. People are justifiably afraid, and when people are afraid they hunker down.
In this April 13, 2020, photo, a couple walk through the capital city's popular shopping mall in Beijing. (AP Photo/Andy Wong)
FOX News/AP: China tries reviving economy after coronavirus lockdown but consumer engine sputters
Millions of workers are wary of spending much or even going out.
BEIJING (AP) — China, where the coronavirus pandemic started in December, is cautiously trying to get back to business, but it's not easy when many millions of workers are wary of spending much or even going out.
Factories and shops nationwide shut down starting in late January. Millions of families were told to stay home under unprecedented controls
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that have been copied by the United States, Europe and India.
The ruling Communist Party says the outbreak, which had killed more than 3,340 people among more than 82,341 confirmed cases as of Thursday, is under control. But the damage to Chinese lives and the economy is lingering.
Read more ....
WNU Editor: All my friends and contacts in China are telling me the same thing. Nothing is moving in the economy, and they do not see any improvement in the future. They are also not interested in starting new projects and/or investments. Their mindset is to "circle the wagons" for this year, and hope that the situation improves next year. According to other reports, European countries are also facing the same problems in restarting the economy .... 'We are in Crisis Mode': China, Europe Show Restarting Coronavirus-hit Economies Not Easy (AP). I expect the same economic reports will be coming from Canada and the U.S. in the next month or two. People are justifiably afraid, and when people are afraid they hunker down.
The ruling Communist Party says the outbreak, which had killed more than 3,340 people among more than 82,341 confirmed cases as of Thursday, is under control. But the damage to Chinese lives and the economy is lingering.
Read more ....
WNU Editor: All my friends and contacts in China are telling me the same thing. Nothing is moving in the economy, and they do not see any improvement in the future. They are also not interested in starting new projects and/or investments. Their mindset is to "circle the wagons" for this year, and hope that the situation improves next year. According to other reports, European countries are also facing the same problems in restarting the economy .... 'We are in Crisis Mode': China, Europe Show Restarting Coronavirus-hit Economies Not Easy (AP). I expect the same economic reports will be coming from Canada and the U.S. in the next month or two. People are justifiably afraid, and when people are afraid they hunker down.
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