Distribution of wealth under the epidemic

 China's super-rich saw a 41 percent rise in wealth and a widening gap between rich and poor

Japan's Nikkei Asian Review October 7, the original title: in the recovery after the lifting of the epidemic blockade, China's super-rich wealth surged 41 percent, the value of Chinese super-rich assets is rising from the March trough caused by the new crown epidemic, from April 2019 to the end of July this year, their total wealth increased 41 percent, breaking the $1.5 trillion mark, but also raising the total wealth of the world's billionaires to a record high.

 As the world's second largest economy, China is the first major economy to recover from the new crown epidemic. China has a record 415 billionaires, with $1.7 trillion in total wealth under control, according to a new report by UBS and PricewaterhouseCoopers. By contrast, the two figures for April were 389 and 1.2 trillion dollars respectively.

 China's billionaires have created more wealth than the rest of the world, thanks to the fact that it has managed to contain the epidemic by march. Curbing the epidemic helped boost economic activity and boost wealth creation in health care, technology, materials and entertainment. According to data compiled by bloomberg, a succession of IPO( initial public offerings in the first half of this year brought more than 20 chinese founders into the billionaires' club.

 At a news conference Wednesday, Amy Lu, UBS's Asia-Pacific co-head of wealth management, said China's wealth creation was "closely linked to innovation and technology ".

 China's billionaires' total wealth has increased eightfold over the past decade, while the wealth of the wealthiest groups in the United States has only doubled, the report said. At the beginning of 2020, the global billionaires' total wealth fell 6.6 percent, to 43, to 2058. Meanwhile, China's billionaires' total wealth increased by a fifth.

The report shows that China's billionaires are mostly technology entrepreneurs, including Ma Yun and Ma Huateng, followed by industry, retail, materials and health executives.

In fact, today's employment problem is very serious, many people have been unemployed, many manufacturing producers have closed down. Some plastic injection molding companies around can not support, so the gap between rich and poor is not good for social development.

First half GDP in 2020

 The United States fell 4.6 percent, so what about China?

No need to say, everyone also knows that Chinese science and technology ah, decades ago is still very weak, after years of development, the level of science and technology has finally caught up. With the development of science and technology, our life has changed dramatically. Looking back on life more than ten or twenty years ago, we feel like dreams.

It is also thanks to the great progress of science and technology, so our country's economic growth is also very rapid, especially valuable, our economic growth has always maintained a relatively fast speed, and by contrast, developed countries like the United States, Their economic growth rate has been very slow.

This year is also an unusual year, because the outbreak caused a certain degree of "degradation" of the world's economy, according to statistics, only two of the more than 200 countries in the world have maintained positive economic growth. Come today to tell you the first half of 2020 GDP ranking: the United States fell 4.6, so what about China?

 Let's first look at the GDP of the top US, which GDP reached $10.11 trillion in the first half of the year, shrinking 4.6 percent from last year. But as we all know, the United States is one of the worst countries in the world. Under such severe circumstances, the United States can still maintain a $10.11 trillion GDP, which has to admire the strength of the United States.

However, to admire, the real king is still China, our country is the first outbreak of the epidemic, after a difficult war and epidemic, our economy fell in the first quarter, but the second quarter has been restored. The economy began to grow again, GDP in the first half reached $6.5 trillion.

China has given the world a perfect answer, and the big problem of the epidemic has not defeated us. On the contrary, it is an opportunity to make us more powerful. We have begun to hide our strength and continue to develop. China mold maker believe that in the near future, Our country will develop like other countries.

Economic Situation in China after the Epidemic

The impacts of the epidemic on the economy

The new crown epidemic has caused a great impact on the economy, first of all, the offline real economy consumption area has been hit, and some contact consumption and some non-essential consumption of residents have been affected. At the same time, we also see that new consumption is still expanding to play a role, now convenient online shopping mall consumption, e-commerce, and so on, even during the most serious period of the Spring Festival epidemic also guaranteed the basic life of 1.4 billion people. With the situation of prevention and control of the domestic epidemic situation continues to improve, economic recovery has gradually become the focus of attention. At this time, whether operators or consumers are looking forward to a wave of "retaliatory consumption" coming. Merchants to recover the heavy losses during the epidemic, consumers are released in the home closed for a long time to eat their own dark cooking for 3 months knot, both are indispensable, together to put the national economy back on track. Inadvertently," retaliatory consumption "has become a fashionable word, by the market's high expectations.

China Economy

What is the difference between the new coronavirus and SARS in 2003?

As far as the SARS epidemic is concerned, according to the statistics released by the World Health Organization on August 15, 2003, the total number of confirmed cases worldwide is 8422, involving 32 countries and regions, and the cumulative number of cases in China is more than 8000. It is not difficult to find that China is a severe SARS disaster area, in a sense, once the domestic epidemic is eradicated, the global epidemic is basically over. In fact, since the end of June 2003, China's SARS prevention and control work were "double lifted ", the entire national economy quickly back on track, China's economic and trade exchanges with other countries have not been particularly seriously affected. And offline new crown pneumonia epidemic, although the Chinese epidemic has been controlled, the economic consumption field has not returned to normal.

What is "retaliatory consumption "?

For the opening of the business,3 months did not open, its impact can be imagined. For example, the catering industry, the catering industry is really not easy, a slight price increase is also understandable. But there is a need to strike a balance between price increases and customer consumption levels, so I believe that customers who go to spend can understand. It is also hoped that the government will support the catering industry more and let them through this difficult time, rather than just thinking of passing the difficulties on to customers, after all, everyone is not easy. Local governments have taken this into account, many regions began to issue consumer vouchers, which seems to some extent to ease the price and consumption between the contradiction. According to incomplete statistics, in just over a month, more than 30 cities in 17 provinces of the country announced that they would issue consumer vouchers to the public. "When consumption is restrained, the government issues coupons in a way that better addresses current price increases, low mass consumption, or promotes restorative growth." Lian Ping, chairman of China's chief economist forum and chief economist of Shixin Investment, said, but he also warned that the use of consumer vouchers should be targeted to meet the different needs of different industries. For example, catering, leisure, and entertainment industry demand are large, consumer vouchers should also make more contributions here. For the general public of our citizens, after the Spring Festival, a lot of ingredients are a little price increase, my mold company afraid it is two months did not open business, the cost is counted on the current consumer. "Wages have fallen, prices have risen, and there are no tears to cry ." "I haven't started retaliatory spending yet, and so on to retaliatory price increases." What do you think?