1、 April 21, 2020 Disclaimer: This paper is the product of professional research performed by staff of the U.S.-China Economic and Security Review Commission, and was prepared at the request of the Commission to support its deliberations. Posting of the report to the Commissions website is intended to
2、 promote greater public understanding of the issues addressed by the Commission in its ongoing assessment of U.S.- China economic relations and their implications for U.S. security, as mandated by Public Law 106-398 and Public Law 113-291. However, the public release of this document does not necess
3、arily imply an endorsement by the Commission, any individual Commissioner, or the Commissions other professional staff, of the views or conclusions expressed in this staff research report. Kaj Malden, Policy Analyst, Economics and Trade Suzanna Stephens, Policy Analyst, Economics and Trade Cascading
4、 Economic Impacts of the COVID-19 Outbreak in China U.S.-China Economic and Security Review Commission Table of Contents Key Findings .3 Overview: COVID-19 Response and Impact .4 Chinese Consumer Demand Plummets .5 U.S. Sales of Goods and Services Falling .6 Consumption Remains Sluggish Amid Uncerta
5、inty and Threatened Incomes.6 Cascading Effect of Lockdowns in China Upends Global Economic Flows .7 Transportation Stoppage and Restrictions on Movement .7 Production Downturn in China .9 Turmoil in Energy Markets .11 Global Shipping Flows in Disarray, Disrupting U.S. Trade .12 Production Breaks in
6、 China Choke Supply Chains for U.S. Companies .13 Dual Supply and Demand Shocks Shake Market Sentiment .15 Chinas Policy Response .15 Considerations for Congress .16 U.S.-China Economic and Security Review Commission 3 Key Findings Halt in economic activity: In addition to COVID-19s extensive human