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Beijing. China has pushed its economy back 50 years due to bad policies. For the first time in many years, China’s economic growth rate is 3 percent. In the meeting led by Xi Jinping on Sunday, the Chinese government has set a 5 percent growth rate this year. Which is very little. However, the World Bank predicts China’s growth this year may be 4.3 percent. On the other hand, if we talk about India, officials from all over the world have shown the possibility that this year India’s economic growth will be 6.7 to 7 percent.
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According to the information received from the officials, China has set a 5 percent of its economic growth for the year 2023. This is the lowest point it has been in many years. However, the World Bank predicts that China’s growth may fall. According to him, this year China can achieve 4.3 percent growth. China has set a growth rate of 5.5% for the year 2022, but can achieve only 3% growth.
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What is the reason for this situation in China
The official has reported that the reason for this bad situation in China is the zero covid policy related to the corona virus. China remained in a state of lockdown for two years due to the Zero Covid policy. Because of this, all his business from the stock market went down the drain. By imprisoning billions of people in their homes, the Chinese government adopted a dictatorial and cruel attitude towards people. When people took to the streets, in response, the Chinese government brought out the guns and the army to fight on the streets. Then, at some point, without any plan, the Zero Covid policy was abolished overnight. The result of this is the Corona period that started in China. Millions of people got sick every day. Bad policies and thinking have pushed China back over the years.
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China returned to the 50-year economy
China’s economy has returned to the economy it has been in for 50 years. In early 1974, China’s economic growth rate was 2.3 percent. At the same time, China’s growth in the year 2022 is 3 percent. Despite all the difficulties, China’s pride is not diminishing. “After overcoming major difficulties and challenges, we were able to maintain a stable economic situation,” the People’s Congress said in a statement on Sunday.
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India is growing steadily
On the other hand, the Indian economy continues to grow. According to an estimate, in the year 2023, the economic growth of India can be 6.7 to 7 percent. The economic growth rate of India in the year 2022 is 8.7, which is higher than China.
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