mo4ch:>Why China is better prepared than other economic powers for any global crisis | Mo4ch News

While the world’s second-largest economy, China, has suffered its first contraction on record due to the Covid-19 pandemic, some experts argue the country has been preparing for a possible crisis for a long time.RT talked to economists to find out if Beijing may have foreseen the economic crash and about the Chinese government’s response to it.“Nobody, including Beijing, could have foreseen the depth and gravity of this pandemic, specifically the cryptic transmission parameters by which the Covid-19 virus spreads. It is truly a once-in-100-year pandemic event,” said Sourabh Gupta, senior fellow at the Institute for China-America Studies.According to him, China was better prepared because “it is in a much healthier fiscal position compared to most advanced economies and many emerging economies too.”READ MORE: Worst three months in decades: China’s economy plunges almost 7% amid coronavirus battleGupta explained that the central government’s debt level as a percentage of GDP is fairly m…