Research on the Impact and Strategy of the Epidemic on the Macroeconomics of China and the United States

Abstract

At the end of 2019, it was Chineses new year, when everyone stayed at home and spent time with their family, the hospitals in Wuhan, Hubei province, have brought in patients with COVID-19. And then the pandemic started to spread out in China and to the whole world and influenced the health and lives of people all over the world. This paper selected China and the United States as the research objects, compared some economic indicators of the two countries and analyzed the negative impact of the epidemic on the economic development of China and the United States. The results showed that the pandemic had a huge negative impact on GDP growth, national income, and trading markets in China and the United States. Economic growth in both countries has slowed or reversed; traffic stagnation leads to a substantial drop in commodity liquidity; unemployment increases and affects people's personal income. Comparing the economic data of the two countries can help people face the negative impact of the pandemic and make decisions. It is also clear whether the policies implemented in both countries in response to the economic downturn caused by the pandemic have been effective in helping stabilize economic growth.