China GDP Grows 4.8% in 1Q; Retail Sales Fall in March

The video discusses the current economic situation, highlighting a better-than-expected GDP number but also pointing out underlying issues such as declining retail and property sales, and a rising jobless rate. The impact of the pandemic and lockdowns is significant, posing challenges to achieving a 5.5% growth target. The government can implement measures like cutting interest rates, but these may have limited effects due to widespread disruptions in supply chains and restrictions on movement.

What challenges does the economy face due to COVID-19?

What measures can the government take to address economic issues?