Everand Logo

Welcome to Everand!

  • Beijing Review

    Curve of Decline

    Aug 13, 2020 4 minutes
    By Zhou Mi
    Copyedited by Sudeshna Sarkar

    The author is a research fellow with the Chinese Academy of International Trade and Economic Cooperation

    The U.S. GDP shrank at an unprecedented 32.9-percent annual rate in the second quarter (Q2) of 2020, according to the advance estimate released by the U.S. Bureau of Economic Analysis (BEA) on July 30.

    In the first quarter (Q1), the U.S. economy decreased 4.8 percent year on year, ending its 11-year expansion, the longest on record. The accelerated downturn in Q2 made it the worst ever since 1947, when BEA began to release the data.

    Prime factors

    The U.S. GDP is mainly driven by personal consumption expenditure, gross private domestic investment, net exports of goods and services, and government consumption expenditure

    You’re reading a preview, subscribe to read more.

    More from Beijing Review

    Beijing Review3 min readInternational Relations
    Calculated Moves
    The recent confrontation between Iran and Israel marks an escalation in an already unstable region, signaling a potentially dangerous trajectory in Middle Eastern geopolitics. On April 13, Iran launched drone and missile strikes against Israeli targe
    Beijing Review3 min readWorld
    The Trappings of Fate?
    According to the ancient Greek version of the world map from the fifth century B.C., the outermost layer of the world was ocean, and in the center of the ocean was one large continent. In the middle of the continent, there was the Mediterranean Sea.
    Beijing Review2 min readIntelligence (AI) & Semantics
    The Rise of The Intelligent Economy
    As China continues its transition to higher-quality economic development, it is increasing its reliance on new quality productive forces, those driven by innovation and new technologies such as artificial intelligence (AI). In addition to lifting tra

    Related Books & Audiobooks