It should also be noted that China is the second largest economy and the highest annual economic growth, the second largest in terms of purchasing power, with natural resources worth about 23 trillion dollars, 90% of which is the world’s rarest coal and metal, the largest banking sector with a total value of $ 40 trillion. It is the fourth largest country in terms of foreign direct investment and the second largest country in terms of millionaires. Due to the competition with the United States, trade war, technological disputes, and coronavirus, China has suffered heavy losses, including the impact on global economic growth.
In addition, China is the largest-scale of various industries and manufactures, with most of the 500 largest companies invest in this largest population country. China, which accounts for 16% of world GDP, has tried to spend much money and tried to reopen its markets and manufacturing. However, China’s recovery will not be as strong as before.
The decline of Chinese tourism, Chinese markets, Chinese purchasing, Chinese supply chains, Chinese investment and aid will affect the Asian economy as well as the world.
According to experts, there two views about the China and word economy. First of all, China’s entry into the global supply chain could quickly recover the global economy after the corona crisis is over. Second of all, it is believed that it is the golden opportunity for China to seize its direction toward the global superpower, while the United States and Europe are in the midst of the crisis.