Focus on A Better Future

The author is an economics professor and executive dean of the Belt and Road School of Beijing Normal University

While the novel coronavirus disease (COVID-19) pandemic has dealt a heavy blow to the global economy, China reported its first economic decline since 1992 when the quarterly GDP data was published.

In the first three months, the Chinese economy contracted 6.8 percent compared with last year, with major economic indicators showing different levels of decline. Retail sales of consumer goods fell 19 percent, fixed assets investment 16.1 percent, and imports and exports of goods 6.4 percent.

Standing in stark contrast with the