Suggestions on China's Financial Development based on the Actual Situation in the Late Epidemic Period

Abstract

The epidemic has led to a sharp decline in the global economy. The World Bank predicts that the global economic growth will reach 5.2% by 2020, which is the worst recession since World War II. The International Monetary Fund lowered its global growth forecast for 2020 from 1.0% to 4.9%, including 8.0% in the United States, 10.2% in the Eurozone and 4.5% in India. The economic recovery of major industrialized countries, Latin America and even Africa may take five to ten years. The US subprime mortgage crisis and European debt crisis in 2008-2009 have made many countries' economies not recover to the level of 2008 or 2013-2014 until 2018-2019. Latin American countries reflect that Latin America may face another lost decade.