National resilience tipped to overcome crisis
Nations are collaborating with each other on the fight against the coronavirus outbreak to control the damage to people's health and the impact on the global economy. Here, in the first part of a series titled "One World, One Fight", we look at how countries can work together.
The Chinese #economy could be poised for a strong recovery in the second quarter as the nation gets back to work, according to experts.
Businesses, particularly small and medium-sized enterprises in the service sector, including shops and restaurants, have been hit hard by the novel coronavirus pneumonia outbreak as people have stayed at home.
The extent of China's recovery may yet also depend on how badly affected the global economy is by the virus, with increasing numbers of cases, including fatalities, being reported worldwide.
JP Morgan Research, the research arm of the investment bank, is predicting that the Chinese economy will grow by 15 percent quarter-on-quarter from April to June after contracting by 3.9 percent in the first three months of this year, compared with the final quarter of 2019.
Jing Ulrich, the bank's vice-chairman of global banking and Asia-Pacific, believes such a rebound would demonstrate the core strength of the country's economy.
"China's ability to overcome the current crisis and continue with long-term plans will demonstrate national resilience," she said.
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