Comments by the NBS in China
- Domestic economy's recovery still faces pressure
- External risks have clearly increased
- Whether or not economic growth can turn positive in Q2 depends on June month
The headline underscores that even if the health crisis may be contained somewhat, the economic crisis/depression is one that will be hard to shake off.
As mentioned before, it is going to take a while before consumption returns to pre-virus levels and even then, the social and behavioural impact will be tough to make sense of.
