COVID-19 complications and economic recovery of China: guidelines for other economies

Abstract

PurposeCoronavirus (COVID-19) brought massive economic damage throughout the globe. Economic as well as social set-ups have enormously collapsed. The present paper underlines some economic complications of China during COVID-19. The study also sheds light on initiatives taken by the government of China to fight against such a damaging pandemic.Design/methodology/approachThe study employed secondary research or desk research that involves existing data. The data were collected from reliable sources, described below. The data were summarized and organized to increase the overall efficacy and reliability of the research.FindingsThe study finds that China has confronted many downturns in export and import, GDP decline, blockage of markets and production evaluation. To recover from these unfavorable and adverse circumstances, China has recovered its economy by introducing digital transformation, effective legislations, A V-shaped recovery and A U-shaped recovery in manufacturing and services.Practical implicationsChina's steps and initiatives to invigorate economic developments during a pandemic would be beneficial for other economies facing the severe challenges of economic development, especially after COVID-19.Originality/valueThe present study is one of the rare studies of the domain that offers the guidelines to the policymakers and economists of developing countries to develop their policies regarding the digital economy to face the traditional market's challenges.

Çi̇n’i̇n Strateji̇k Avantaji: Covid-19 Pandemi̇si̇ne İli̇şki̇n Bi̇r Değerlendi̇rme

“…According to The Washington Post, the analogy of "rich country, poor citizen" has been used to say that China's rising economic values are not felt by the public (Shih, 2021). In line with the mentioned macroeconomic measures, in addition to the performance of overcoming the epidemic; as a point that China's policymakers should be careful of, the quality of life of the society should be (Soomro, Mangi ve Shah, 2021).…”

Strategies for the sustainable development of China in the post‐epidemic era

“…Furthermore, we briefly survey and summarize previous research related to China's economic recovery, which has a very high reference significance for the topic of this paper. More specifically, some scholars have explored the role of government in the process of China's economic recovery (Kong et al, 2022; Yang et al, 2021), while other researchers have targeted what China's economic recovery could bring to the world (Soomro et al, 2021; Wang & Zhang, 2021). Other related contents about economic recoveries, such as recovery policies and the recovery of specific provinces, are also the focus of existing scholars' research (Fu et al, 2020; Jiang et al, 2021; Wang, Wang, & Chang, 2022; Wang, Zhang, et al, 2022; Yang et al, 2020; Zhang & Zheng, 2020).…”

The development of digital economy in times of a pandemic crisis

“…In 2020, the nation was urged to enthusiastically foster progressed fabricating industry and present supporting approaches for framework development. Speeding up the commercialization of 5 G, fortifying the development of new frameworks like artificial intelligence and IIoT, and presenting pertinent venture support approaches are significant undertakings for China's future economic development and digital innovation (Soomro, Mangi and Shah, 2021).…”