Analysis on Changing Trends in China’s & U.S.’s Economies and Potential Benefits for Post-COVID Recovery

DOI

10.2991/aebmr.k.220306.003How to use a DOI?

Keywords

Post-COVID recovery; China; U.S; Economic system

Abstract

An unprecedented scale of lockdown has been generated in the world by the highly contagious virus, COVID-19. Consequently, the economies are highly impaired, since businesses are closed, firms stop the productions, and global trade is constrained. The pandemic is challenging the formerly existing economic systems. Due to this, the economic systems started to alter. This article selects the two most prominent economies, of China and of U.S., to illustrate the changing trends. Specifically, the author will present the existing economies in both countries: the socialist economy with China’s characteristics and the neoliberalist economy in the U.S. Following introductory sections, the article will further explore the changing trends, namely, the change between “big government” and “small government” in both countries. As the author noticed, China has a gradual change, from a big government, to a small one, while the U.S. is converse. Finally, the author uncovered the potential benefits of economic recovery after COVID-19, including the use of different methods by governments of different economies to stimulate financial recovery.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Yiwen Sun
PY  - 2022
DA  - 2022/03/17
TI  - Analysis on Changing Trends in China’s & U.S.’s Economies and Potential Benefits for Post-COVID Recovery
BT  - Proceedings of the 7th International Conference on Economy, Management, Law and Education (EMLE 2021)
PB  - Atlantis Press
SP  - 15
EP  - 19
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220306.003
DO  - 10.2991/aebmr.k.220306.003
ID  - Sun2022
ER  -