China’s Economy May Plunge 10% on CCP Virus Impact in Q1, Says China Beige Book
Wave of deglobalization, reduced dependence on China could pick up
Data for the first quarter of 2020 gathered by CBB, a research service that uses data from over 3,300 firms to track the performance of China’s economy across key sectors, industries, and regions, is in uncharted territory.
Barriers set up to block off a street in Wuhan, China, on March 15, 2020. The normally bustling city in central China is the epicentre of COVID-19 and a symbol of the Chinese economy’s shutdown in the first quarter of 2020. STR/AFP via Getty Images
As the world grapples with the societal impacts of the CCP (Chinese Communist Party) virus, commonly known as the novel coronavirus, the economic toll in its country of origin has led to the worst results in China Beige Book (CBB) history.
Data for the first quarter of 2020 gathered by CBB, a research service that uses data from over 3,300 firms to track the performance of China’s economy across key sectors, industries, and regions, is in uncharted territory.
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
