Coronavirus Mishandling Spells Doom For Chinese Economy As China Continues To Draw Global Ire

China, so far, has been a massive manufacturing hub and exporter. However, it seems that its economy will soon be succumbing to the global wrath and disappointment shown by its competitors as well as once allies.

Chine is the world’s largest economy after the U.S. The official data revealed by the Chinese government on Friday, April 17, indicated that the economy of the country shrank by as much as 6.8 percent in the first three months of the year as compared to the last year. The complete closure of shops and manufacturing units, as well as the travel ban, have led to the downfall of the economy.

With a fall in exports, retail spending and auto sales, the financial forecasters believe that there will be little to no economic growth for China this year. China’s economic growth has already been at its lowest in the past decade owing to weak consumer demand and the ongoing price-war with Donald Trump, leading to a dip in the exports. With the repercussions of the pandemic, the rate of recovery is expected to be extremely slow.

However, the economic mess for China does not end here.

With the U.S. Intelligence Agencies looking into the reasons for outbreak and possibility of coronavirus being “deliberately” released from the Chinese lab in Wuhan, a larger number of people across the world have started to believe the idea that China is responsible for the global suffering.

A Harris Poll released on April 6 revealed that as much as 77 percent of the U.S. population believes that China is responsible for the pandemic.

The General Secretary of the Communist Party of China Xi Jinping has long been known to silence and intimidate the medical community and has been accused many times of letting the coronavirus flourish and spread across borders.

The disappointment is not only restricted to the U.S. but to all the countries directly or indirectly involved with China. The British Prime Minister Boris Johnson, having recovered from the virus himself, is expected to shut Huawei from the U.K.’s 5G network. He has also threatened China of other consequences for not having shared accurate data about coronavirus in a timely fashion.

Meanwhile, China’s attempt to reconcile with other countries by supplying them with personal protective equipment (PPE) doesn’t seem to go right as well. Several countries including, Turkey, Czech Republic, Pakistan, India, Spain, Australia, and the Netherland have received defective PPE and test kits from China, with a majority of the lot failing the standard safety and quality tests.

Even China’s closest ally in the Middle East, Iran, has condemned China for under-reporting the death toll in the country. The country called China’s official data a “bitter joke.”

The global outrage has led many countries to announce strict actions to be taken to let the fear loom over the Chinese economy. Japan has decided to start paying its companies to move out of China while the Indian government has announced that no country will be able to invest in a company in India without seeking approval from the government. The rest of the countries disappointed with China are expected to follow the suit.

China is also expected to be hit hard economically if they fail to purchase $250 billion in American-made products before 2021 ends. Failing to do so will ultimately kick-in Trump’s tariffs, which will be a further blow to the Chinese economy.