China could emerge from the pandemic even stronger [CNN]
Toyota Motor Corporation (TM)
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Source: CNN
China could emerge from the pandemic even stronger A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . China's economy shrank 6.8% in the first quarter of 2020 compared to a year earlier, according to government statistics released Friday. The superlatives: The plunge is the worst for a single quarter that China has recorded since it started publishing those figures in 1992. It's also the first time China has reported an economic contraction since 1976, when Communist Party leader Mao Zedong's death ended a decade of social and economic tumult. Widespread pain: China's three major engines for growth — consumer spending, exports and fixed asset investment — all slumped as large swaths of the country were placed on lockdown. The country's quarterly economic report is in some ways a barometer for the United States and Europe, according to my colleague Laura He, because the West only began to feel the full
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