Discussion on Economic Situation of China During COVID-19 Pandemic in 2020

Macro Analysis of the Impact of Covid-19 on China’s Economy

DOI

10.2991/aebmr.k.220307.153How to use a DOI?

Keywords

COVID-19; China’s economy; Aggregate supply and demand; Macro-economic; Negative impact

Abstract

The outbreak of COVID-19 in 2020 has brought great external impact to China’s economy, which is facing complex internal and external environmental challenges. The pandemic has caused direct losses to the aggregate supply and demand in the macro-economic area, and brought indirect negative effects to the long-term economic development. In this paper, panoramic scanning is carried out from two levels: macro aggregate and industry structure through analysis of the previous researches and data analysis and comparison. The data are processed hierarchically and divided according to the general form and the corresponding industrial structure. The severity of COVID-19 -19 is reflected in the dual impact of supply and demand, and a simple and clear answer can be obtained from the data of Chen et al. for further analysis by establishing the AD-AS economic model[1]. Using the quantitative comparison method, the negative impact of COVID-19 on manufacturing and service industry is obvious. But for the health care industry, e-commerce, and online game industry, it has benefited. The seriousness of COVID-19 is reflected in the double impact on supply and demand, and a simple and clear answer can be obtained by using the total supply and demand curve. The negative impact on most industries is obvious, but some industries get benefits.

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  - Youdan Zhang
PY  - 2022
DA  - 2022/03/26
TI  - Discussion on Economic Situation of China During COVID-19 Pandemic in 2020
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 935
EP  - 940
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.153
DO  - 10.2991/aebmr.k.220307.153
ID  - Zhang2022
ER  -