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China’s economy stalls amid months-long coronavirus crisis | ITV News

Across Beijing, businesses have their shutters down and doors locked as the coronavirus numbers soar in China, its economy has stalled.

Now, two months in to this outbreak, travel restrictions and enforced quarantines are still preventing millions of people from returning to work.

China’s war against the coronavirus includes a battle to save its businesses and economy too.

The government is optimistic the impact will be short-term, but for the first time in decades. China could see its economy contract.

Growth is forecast to be zero per cent, or worse, for the first quarter of the year. The year as a whole could see the economy shrink by two per cent. Almost two thirds of companies say they face operation difficulties, and mass redundancies are possible.

A one per cent rise in employment would see 4.5 million people lose their jobs.

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