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Pressure continues on Chinese economy due to Covid and Ukraine crisis
Posted on May 23, 2022 |
- The Chinese economy is under stress due to strict curbs to curtail the COVID pandemic, which is adversely impacting production capacity and other logistics.
- China's exports experienced a growth of 3.9% on an annual basis in April 2022, which is the lowest growth since July 2020.
- Global growth in 2022 is expected to be subdued at 2.9% compared to the 6.2% of last year due to the Russia-Ukraine conflict and the surge of Covid-19 in China.