Covid in China: China on the verge of bankruptcy because of Covid, people forced to beg due to not getting salaries

Publish Date: 28 Dec, 2022 |

Corona is continuously wreaking havoc in China. Covid-19 has caused a lot of damage to China economically and financially. According to information, People here have no money left. People are very upset due to not getting salary. 

Zero covid policy creates economic problems

The economic activities of the country has depleated due to the Zero covid policy. Because of this, the revenue of the provincial and local governments has also decreased. Bank for International Settlements (BIS) has issued a report which states that, the amount of debt on the non-financial sector in China has increased to $51.87 trillion. This is 295 percent more than China's gross domestic product (GDP).

Video of people protesting goes viral

A video has become viral on social media which shows people protesting against the Chinese government because they have not got salary at all. People are seen with banners and board in their hands asking for their salary. Reports have also been issued which states that covid is affecting China much more than they have portrayed and China is probably in much more debt.


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