Beijing: – China, which was boasting as the only economy to progress even during the Coronavirus pandemic, has started receiving fresh jolts. For the last few months, the number of defaulter companies is on the rise, and as per indications, some of these companies could declare bankruptcy. At the same time, the profitability of the Chinese companies is declining, given the rising raw material prices in the world. At the same time, an article on the US website Forbes claimed that the days of Chinese economic marvel are overdue to the policies of President Xi Jinping.

The extent of the commotion caused by the Coronavirus pandemic has not reduced in the world. Many leading economies have taken a major hit because of the pandemic in the last year. Economies of the United States and European countries recorded a negative growth rate. At the same time, China informed that its economy grew by more than 2%. But the developments over the last few months prove that this Chinese picture is fake and fragile.

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