China ditches its annual growth target for the first time as coronavirus hammers the world's 2nd largest economy
China ditched its annual growth projection for the first time in decades in a rare move that shows the true scale of the coronavirus economic impact.However, the uncertainty caused by the coronavirus led to its scrapping.
Analysts say China's timing could not be worse in both ditching its GDP target and establishing a new national security law on Hong Kong, amid escalating US-China tensions and increased calls for investigation into the origins of COVID-19.China has scrapped its customary growth target for 2020, the latest sign of how the coronavirus pandemic has ravaged the world's second-largest economy.
Doing away with years of precedent, China's ditching of its gross domestic product target is an admission of "great uncertainty" the economy is faced with from ruptures caused by the coronavirus.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside California's beautifully bizarre Winchester Mystery House - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
China will not set GDP target for 2020 as coronavirus batters economyChinese Premier Li Keqiang's remarks Friday are part of China's annual parliamentary meeting, delayed by about two months this year due to the disease known as Covid-19.
Read more »
China will not set an economic growth target amid 'great uncertainty'China will not set a specific target for economic growth this year — a sign of how much uncertainty the coronavirus pandemic has caused the world's second largest economy.
Read more »
Beijing Scraps GDP Target, a Bad Sign for World Reliant on China GrowthChina broke with more than a quarter-century of tradition by eschewing an economic growth target for 2020, a stark acknowledgment of the challenges facing the world’s second-largest economy as it grapples with uncertainties around the coronavirus pandemic.
Read more »
China Scraps GDP Target for 2020Chinese Premier Li Keqiang said the government wouldn’t set an economic target for 2020, in a stark acknowledgment of the challenges facing the world’s second-largest economy as it continues to grapple with the uncertainties around the coronavirus pandemic.
Read more »