Baku State University

siruz_esgerov@mail.ru

CHINA'S POST-CORONAVIRUS ECONOMIC SITUATION

In modern times, the United States, Russia, and China are among the world's economic giants. However, China is now moving towards becoming the most economically developed country. As a result of state reforms in 1979, China's economic development was marked by the prospect of free trade, and thus China became one of the hegemons of our time. However, every rise has a decline, and this decline has manifested itself in the Chinese economy. Due to the COVID19 virus in Wuhan, China, the country suddenly became the center of a pandemic. Educational institutions have shut down, companies have gone online, tourists have been given limited access to the country, and even travel to China from most countries has been suspended. Another country that was hit by a second pandemic after China was Italy, and just two months later, after China, Italy, then the United States, then Russia, and Brazil fell into the pandemic. The first country affected by the pandemic, of course, was China. Because the entrances and exits of a country with great economic development were suddenly stopped and ticket offices were closed. Buddha stopped the inflow of foreign currency into the country. However, if we look at developed countries such as Italy and France, China has suffered less from the pandemic than Italy, France, and Russia. China prevented the spread of the pandemic, took a number of measures at the state level, and thus there was almost no infection with COVID19 in China in March. China, albeit partially, has re-entered the country and resumed life. As a result of these measures taken by China, economic development within the country has already resumed.