The Impact of COVID-19 on Chinese Economy - Curb Consumer Demand, Chinese Policy and the Prediction of Future Trend

Abstract

In 2020, a coronavirus named COVID-19 suddenly broke out in China, which intensively disrupted the Chinese economy. Then it spread globally. The government have tried to set up lots of policies to help with the controlling of spread of the pandemic, so cities were locked down and people were confined at home. As a result, people lose tremendous opportunities to consume. Consumers, as an indispensable part in economy, their demand for goods and services in the market was seriously curbed. However, the epidemic in China is improving year by year and the economy steps into recovery stage. Several economic policies had been put into effect to stimulate the recovery and growth of China’s economy. The paper investigates the impact of COVID-19 on the demand side of China and aims to figure out the effectiveness of Chinese policies during the recovery stage. Also, the paper gives some prediction of the future trend of Chinese economy based on the literature review.

The darkness of reacculturation: examining factors influencing depression among Chinese international student returnees in the post-COVID-19 era

“…However, the economic recovery fell short of expectation ( Ajami and Karimi, 2023 ). Numerous socioeconomic crises that emerged during COVID-19 persisted, including a slow economic growth ( Attinasi et al, 2023 ; IMF, 2023 ; Luo and Li, 2023 ; Song, 2023 ), rising youth unemployment ( ICEF, 2023 ), high divorce rate ( SCMP, 2024 ), and a significant exodus of skilled labor ( Bloomberg News, 2023 ; Li, 2023 ; Wong and Yan, 2023 ).…”