Assessing the nexus between COVID-19 pandemic-driven economic crisis and economic policy: lesson learned and challenges.
Environ Sci Pollut Res Int
; 2022 Oct 25.
Article
in English
| MEDLINE | ID: covidwho-2254314
ABSTRACT
This study examines China's budgetary policy during the COVID-19 pandemic as a result of China's insufficient ability to deal with a new crisis when the epidemic struck in March 2020 and as a result of the economic crisis that began in China in March 2020. In order to better comprehend China's economic status during COVID-19, the study relies on secondary data. The fiscal response of emerging market economies like India is less than in advanced economies. However, it is generally considered to be in line with the average for emerging market economies. As a result of the Disaster Management authority imposing a rigorous lockdown, unemployment rose, the trade cycle was interrupted, and manufacturing and service activities were affected. According to the study's findings, China's economic policies, namely its fiscal policy, responded in the years leading up to 2019 by increasing health expenditure, income transfer, welfare payments, subsidies, and reducing short-term unemployment. As a result of the COVID-19 pandemic, China's government has adopted a number of measures to minimize the damage to the economy. This article also focuses on China's numerous budgetary actions with COVID-19.
Full text:
Available
Collection:
International databases
Database:
MEDLINE
Language:
English
Journal subject:
Environmental Health
/
Toxicology
Year:
2022
Document Type:
Article
Affiliation country:
S11356-022-23650-0
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