China's economy has shrunk by 6.8% for the first time in decades

China's economy has been hit hard by the Coronavirus Covid-19 outbreak. China's virus-hit economy has shrunk for the first time in decades. The world's second-biggest economy contracted by 6.8% due to the Coronavirus Covid-19 outbreak.

China’s economy shrinking ended a nearly half-century of growth. The world sure could have used an economic boost. The task of reviving the global economy will be difficult and important.

China’s economy shrank 6.8% in the first 3 months of 2020. It is China's first such contraction on record. The financial impact of the Coronavirus Covid-19 Pandemic is seriously damaging.

The news came recently as Chinese authorities also revised the death toll in Wuhan, the hardest-hit city and where the virus first emerged, up by 50%, to 3,869 from 2,579.

The Chinese government says that there was no cover-up and no concealing the extent of the pandemic.

The number of cumulative confirmed infections in the city was also revised upward to 50,333, an increase of 325.

The economic contraction, reported by China’s National Bureau of Statistics on Friday, comes after months of difficulty as the country went into lockdown to contain the virus.

The virus emerged in central Hubei province in December. It has infected more than 2 million people globally and killed more than 140,000. The number of global cases are still growing rapidly every day.

Read more interesting news here:

https://www.wionews.com

April 17, 2020 China Raises Coronavirus Death Toll by 50% in Wuhan - the-latest.news

April 8, 2020 Masked crowds fill Wuhan’s streets, trains as lockdown ends - apnews.com

April 17, 2020 AP report claims China knew of pandemic danger in Wuhan even as officials downplayed risk of virus - cnn.com