May 20, 2024


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China’s First-Quarter GDP Plunges on Coronavirus

BEIJING—China’s financial system shrank six.8% in the first three months of 2020 in contrast with a calendar year before, the first such contraction given that Beijing began reporting quarterly gross domestic products in 1992.

The collapse foreshadows the ache anticipated in the U.S. and all around the environment as the coronavirus pandemic shuts borders, halts business enterprise exercise and cripples world wide supply chains.