The development of China has become a great challenge to the top leading developed countries. In the Covid-19 pandemic the entire world facing a big economical disaster that has no certain assurance to overcome in a certain mentioned period. While China has shown a GDP drop of 6 percent until June 2020. In order to understand the growth of the countries Economy that has led to silently reduce the stability of strongest countries like Europe, USA, and Russia we need to understand a few strategies.
It was in 2004 that the largest business of computer was sold to China before it the strong computer business platform was lead by the American’s IBM. No doubt it was a big business drawback that IBM had to face as it was taken by Lenovo, after which in the field of computer business Lenovo from China became the third-largest seller in the world. It was the time when the development of China was stepping into domestic economic development and move out of the multinational joint ventures.
Now IBM about more than 40 percent of the workers is employed in the Chinese company of Lenovo. In 2019, the reply was from America when they decided to ban China Mobiles to the market of the USA. Based on the issues of security the Government of USA led to stop the service of any other country that will respond to control the mobile services was terminated. Now it was a clear gesture of the escalating battle of power between China and the USA based on finance and economy. No doubt this was a great loss for the China mobile companies.
Chinese telecom equipment was already stopped from making their business by Trump’s administration. The technology war was increasing with the development of China was proving to be stronger in technological business that was getting control over the leading technological country USA.
Though the USA was able to stop banning Chinese technology to lead the USA it overtook the markets of major parts of Asia and the world. China was able to provide products at an affordable price that the USA was behind. Affordability and demand both are properly satisfied by the Chinese company or which their product was in great demand. As the demand of Chinses products increased it was then the planning for the construction of the China-Pakistan economic corridor.
The benefit of the China Pakistan Economic corridor
The main aim of the China Pakistan economic corridor was to join the Silk Road Economic Belt and Southeast Asian Maritime silk road. The development ensures employment and a better future economy for Pakistan. The Silk Road economic belt is the connector to increase the business through the Euro and Asian countries.
Condition of China’s economy during the massive lockdown
Even of the unclear reason of the spread of Cov-Sars2, as the initial epicenter of the virus was in Wuhan China, the USA sees an unemployment rate to 19.5 percent till June after the lockdown in the pandemic, while India faces an unemployment rate of 11 percent with a great hit to the finance and economy. While China shows massive economic growth from June by the acceleration of domestic production.