Research on China's Economic Situation and Future Expectations under the Epidemic

Abstract

The outbreak of the new crown epidemic in 2020 has had a huge impact on societies and economies around the world. The economic downturn has been the norm for the last two years, but it is still important to stay on target and grow. As the world's second largest economy, China's economic development and the factors affecting it in the event of an epidemic are particularly crucial. It is also relevant to sustainable development. This paper examines the extent to which the factors affect the economy through a combination of qualitative and quantitative methods. The current state of the Chinese economy and expectations for future development are analyzed two main topics, the situation of the Chinese economy, and the future development of China and the Sustainable Development Goal. The ratios show that consumption is the main factor influencing the economy. This is followed by unemployment, investment and even taxation. Also comparing the way the US and China stimulate consumption, the conclusion is that because of the different national conditions, the way to stimulate the economy will be different. Finally, in the context of Sustainable Development Goal 8.1 sustainable development goals, it is difficult to achieve an economic growth rate of at least 7% by 2030 because of the unstable economic situation and the constant blow of the epidemic. However, there is a positive expectation for China's future economic development and the economy will gradually recover. There is still a need for a strong development in technology and new energy economy to reach the sustainable development goals.