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China’s economy shrinks as coronavirus hits world trade

china’s-economy-shrinks-as-coronavirus-hits-world-trade

Economic effects of lockdowns felt globally as depressed demand affects manufacturers

China’s economy shrank 6.8% in the first three months of 2020, the country’s first such contraction on record and a stark sign of the financial impact of the coronavirus pandemic.

The news came as Chinese authorities 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.

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