Global economy difficult to recover
According to the June report of the International Monetary Fund (IMF), advanced economies will shrink by 8%, and emerging and developing economies will shrink by 3%.
The economic performance of export-oriented economies will be hit harder in 2020. Professionals predicted that the global economy will decline by 5.2% in 2020, the worst economic recession in decades. '
The current global trade growth has slowed down, and international trade shrank by 3.5% in the first quarter of this year compared with the same period last year.
The overall exports of export-oriented Asian economies in 2020 were expected to continue to decline significantly.
