BEIJING—China’s financial state plummeted six.8{744e41c82c0a3fcc278dda80181a967fddc35ccb056a7a316bb3300c6fc50654} in the initially three months of the yr in comparison with a yr previously, the country’s initially these types of drop considering that Beijing started reporting quarterly gross domestic product or service in 1992.
The sharp contraction in the world’s 2nd-largest financial state, documented Friday, offers a foreshadowing of the ache envisioned in the U.S. and about the planet as the coronavirus pandemic shuts borders, halts company exercise and cripples world wide supply chains.
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