Economic Effects of Lockdown in China

Qin Chen, Zhiguo He (), Chang-Tai Hsieh and Zheng (Michael) Song

Chapter 1 in Impact of COVID-19 on Asian Economies and Policy Responses, 2021, pp 3-10 from World Scientific Publishing Co. Pte. Ltd.

Abstract: On January 23, 2020, the Chinese government locked down the city of Wuhan (in Hubei Province). In subsequent days, similar measures were taken in other cities in Hubei and throughout China. This chapter documents several facts of the Chinese economy since the lockdown. The main findings are summarized below.The impacts of the lockdown on various economic activities, from flows of people and goods to aggregate output, were immediate and dramatic.Flows of people and goods out of Hubei have recovered to the pre-lockdown period. But daily visits to shopping malls and office buildings remain one third lower than the pre-lockdown level.The size and structure of consumption expenditure also experienced substantial adjustments…

Keywords: COVID-19; Pandemic; Coronavirus; Lockdowns; Supply Shock; Demand Shock; Financial Distress; Global Value Chain; Global Supply Chains; Public Policy; International Trade; Debt; Post-COVID-19; Liquidity Crisis; International Trade; Policy Response; Policy Uncertainty; Public Health; Big Data; Pandemic Dilemma (search for similar items in EconPapers)
JEL-codes: F02 F4 H12 I15 I18 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (3)

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