World News / China may invite economic recession all over the world, this big news came after Corona restrictions

Zoom News : Jan 17, 2023, 11:40 AM
World News: There has been a big decline in China's economic growth rate. The pace of the Chinese economy has slowed down due to the restrictions imposed to prevent the Corona epidemic. Its effect can be seen on the economy of the whole world. Experts say that China can invite economic recession all over the world. Let us tell you that due to the restrictions imposed in China last year to deal with the corona virus, the real estate recession, the economic growth rate fell by three percent in the year 2022. China's GDP figures have missed Beijing's official growth target. China had set a target of 5.5 percent GDP growth. Last year, China's growth rate was the weakest since 1976.

Growth fell to 2.9% in one year

Growth in the world's second-largest economy fell to 2.9 per cent in a year, according to government data. Experts say that the presence of people in shopping malls and restaurants is gradually increasing since the restrictions were lifted. At the same time, according to the government, it seems that the current wave of infection has passed. Significantly, last year's economic growth rate was less than half of 2021's 8.1 percent.

Trade increased between India and China

On the one hand, China is in the grip of economic recession, on the other hand, trade between India and China has increased. According to the report, trade between India and China is set to reach an all-time high of $135.98 billion in 2022. With this, India's trade deficit with China crossed $100 billion. India-China trade is set to grow by 8.4 per cent to USD 135.98 billion in 2022, according to data released by the Chinese Customs Department on Friday. Last year this figure was 125 billion dollars. China's exports to India grew by 21.7 per cent year-on-year to US$ 118.9 billion.