China’s Economy Shrank The First Time Since 1976 In First Quarter
Shanghai, China – Photo courtesy: ADB/Flickr
China’s economy shrank by 6.8 per cent in the first quarter of 2020, the first contraction since the end of the Cultural Revolution in 1976, confirming the economic damage done by the coronavirus pandemic. Over the first three months of the year, the world’s second largest economy faced an extensive shutdown as it battled to contain the spread of the coronavirus, and has subsequently struggled to fully reopen.
