Impact of Epidemic on EmergingMarkets and Relevant Countermeasures - A Case Study of Emerging Markets in China

Abstract

The new coronavirus epidemic has brought great obstacles to China's economic development. Faced with the impact of the epidemic, the Chinese government has used fiscal and monetary policies to accelerate economic recovery. This paper, through a method of literature review, explores the impact of COVID-19 on China's economy and economic recovery under policy support. The paper finds that the outbreak of the new coronavirus disease has had a significant impact on China's economy and financial markets but also brought great pressure to China's enterprise financing. In an environment of weak domestic and foreign demand and increased international environmental uncertainty, the outbreak of the new coronavirus has intensified the pressure of the economic downturn and added new uncertainty to economic development. Many people's income levels have declined. Apparel, shoes and hats, gold and silver jewelry industry consumption fell sharply. The epidemic has a great impact on the consumption part of the economy, so it is a good choice to develop an economy based on exports. With the help of fiscal policy, monetary policy, and stimulus measures, China's exports have grown rapidly and PPI levels have risen, making it the most foreign-attractive country in emerging economies.