Security guards walking down Wangfujing street in Beijing.

China’s economy in the Corona crisis: A historic fall

China’s economic growth came to a screeching halt in the first quarter of the year, due to the government’s measures to contain the Covid-19 virus. Macroeconomic indicators fell off a cliff and, for the first time since the cultural revolution in 1976, China’s economy contracted with GDP growth falling by 6.8.