Several factors are behind the recent resurgence in house price. While the government has injected liquidity into the economy to mitigate the pandemic’s impact, domestic and international uncertainties have led some enterprises to seek a safe haven in the real estate market
The coronavirus pandemic, which caused severe disruption to global supply chains, has further exposed the negative impact of globalization on domestic economies. As the world seems to have arrived at a crossroads, policymakers around the globe should take a new approach to establishing a new form of globalization
To solve the problem of affordability for low-income groups, the Chinese government should increase its budget for their healthcare to guarantee basic medical services
Despite these positive signs, the government should not be complacent. As the global pandemic is still ongoing, and is yet to reach its peak, the government should prepare for the worst and take an aggressive approach to mitigate its impact.
The Chinese government should not tie itself to achieving a specific GDP growth rate. As the odds of a recession in the Chinese mainland increase, the leadership’s priority should be on mitigating the long-term impact of the coronavirus crisis rather than short-term considerations
Authorities may have underestimated the danger posed by the coronavirus. Perhaps they were concerned that a genuine assessment of the situation might cause public panic and jeopardize economic and social stability