RMK 153: PRINCIPLES OF CONSTRUCTION ECONOMICS – ASSIGNMENT 2

Prepared by Ang Kok Wen 151199 Rachel Siow Ching Ni 151482 Teh Ching Zhe 154054 Pok Qi Siang 152483 Low Huey Chin 150535 Hellooo guysss welcome to our wakelet , we are from Group 3~❤️ We are chosen China as our country to conduct the desk-study. It is research about the global economic crisis during pandemic Covid-19 in China. Generally, the outbreak of COVID-19 has brought significant impacts on China’s economy and society. This study systematically analyzes the impacts of COVID-19 outbreak on China’s industries, especially industries of transport, storage and post, hotels and catering services. On the demand side, the COVID-19 outbreak hurt China’s consumption, investment and international trade. Based on the forecasting of the virus infection, this study estimates the growth rate of China’s gross domestic production in 2020 based on the basic scenario and the pessimistic scenario. The policy suggestions are further proposed to better coping with the COVID-19 shock, including making scientific evaluations of the impacts, systematically arranging related risk, actively coordinating various policies.