China Trade Growth ‘Unsustainable’ If Virus Not Controlled – Minister
Passangers and an airport staff wearing facemasks amid the concerns over the COVID-19 coronavirus walk in a nearly empty terminal at Beijing Capital International Airport on April 13, 2020. NICOLAS ASFOURI / AFP.A recovery in China’s trade growth is not sustainable unless the coronavirus pandemic is brought under control globally, the minister of industry and information technology warned Wednesday.
But Miao Wei told a news conference that “although our imports and exports in renminbi terms from January to April have increased moderately, I think that if the global pandemic cannot come under effective control, this is unsustainable”. China had already been trying to boost consumption as a key driver of domestic growth in a drive to recalibrate the economy from one driven by exports and state investment.
China’s key markets have been reeling from the virus fallout, with more than 30 million jobs destroyed in the United States, where the Treasury Secretary has warned of “permanent damage” to the economy if strict stay-at-home measures are not lifted soon enough.
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