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China Domestic Epidemic Situation Was Controlled
The domestic epidemic situation was controlled, and cases in some areas were mainly imported from abroad, and processing enterprises in various places resumed work one after another. However, the epidemic situation abroad is worrying, and the plunge of oil has a great impact on the world economy.
Viruses know no borders, and cooperation is key. Economic recession and the financial crisis also have no national borders, and cooperation remains the basis for overcoming the crisis. To repair the global governance system and avoid the overturn of the global economy, countries, especially the major powers, are urgently required to take all measures to fight the epidemic, strive to control the spread of the epidemic as soon as possible, and strengthen their confidence in defeating the epidemic. The epidemic cannot be out of control, especially the major US and European powers cannot be "occupied", otherwise it will bring great impact on the world economy and society, and the consequences will be difficult to predict.
The world economy is facing major challenges this year: the global spread of the new crown pneumonia epidemic has caused a decline in manufacturing, a significant contraction in the tourism service industry, damage to both ends of the real economy supply and demand, and sharp fluctuations in the capital market. On March 13th, the Dow Jones index suffered a "Super Black Monday", plunged 2352 points, and the stock markets of at least 12 countries melted down. The US and European stock indexes fell more than 20% in a month and fell into a technical bear market. The prices of commodities such as U.S. Treasury bonds, gold, encrypted digital currencies, and oil have plunged at the same time, the function of safe-haven assets has been lost, and market liquidity is very tight, comparable to the 2008 financial crisis. Goldman Sachs predicts that if the epidemic is not contained, the global public health crisis will trigger the world economic collapse within six to eight weeks; global economic growth will be less than 2% in 2020, the lowest in 30 years.