Published 09:15 IST, July 31st 2020
China stooge mocks US as its GDP tanks by 32.9%; gloats that Xi's CPC would never allow it
Sharing a news article headline regarding the decline in US GDP, Hu Xijin said the CPC would not allow such ‘tragedy’ to happen in China in the 21st century
- World News
- 2 min read
As the United States GDP tanked by a record 32.9% in results announced on Thursday amid rising Coronavirus death toll across the country, Editor-in-Chief of China’s mouthpiece Global Times, Hu Xijin taunted the situation in the US while comparing the same with Beijing.
Sharing a news article headline regarding the decline in GDP, Hu Xijin said that the Communist Party of China would not let such ‘tragedy’ to happen in the 21st Century.
US economy shattered
The US economy suffered its worst blow since the Great Depression in the second quarter on Thursday, July 30. The country’s Gross Domestic Product plunged 32.9% during the last three months, by far the largest drop since 1947. This slump more than tripled the previous record of 10% seen in the second quarter of 1958, with a 5% reduction seen in the first three months of 2020, when COVID-19 spread from China across the world.
As the states are no longer under lockdown, the worst economic collapse has likely passed in the US. But according to experts, the recent surge in Coronavirus cases has complicated the growing recovery.
Most of the decline in activity came in April as the country closed down non-essential businesses and ordered people to stay home as much as possible. The job layoffs during this period drove the unemployment rate to a record 14.7% that month.
US surpasses 150,000 COVID-19 deaths
Meanwhile, the US on Thursday surpassed the 150,000-mark for COVID-19 related death, just six months after the first case of novel coronavirus was reported in China.
According to the John Hopkins University tracker, the US has the highest number of COVID-19 death in the world with the total tally reaching 150,034 on July 29, Wednesday. More than 4.3 million people have been infected with COVID-19 in the country since the start of the pandemic.
Updated 09:15 IST, July 31st 2020