Dialoguepk

13 May 2020 Author: Yan Liang, Willamette University China’s economy is now gradually recovering from COVID-19 and is entering a reopening phase. But reopening the economy carries the risk of a  second wave of outbreaks . While the reopening of China’s economy is positive news for the world economy, the global economic slowdown still poses a great challenge for China’s return to normalcy. There have been hopeful signs of economic recovery in China. From February to March 2020, China’s manufacturing  Purchasing Managers’ Index  (PMI) jumped from 35.7 to 52.0 and the services PMI rose from 29.6 to 52.3 — beating market expectations. Daily coal consumption has now reached about 90 per cent of the level seen in the past three years. The traffic congestion index for 100 cities is now over 90 per cent of that during the same period in 2019. With 50 million migrant workers still stuck in their homes and consumers still worried about the pandemic, both supply and demand will experience a slow