Author(s)

Fengduo Bai

Corresponding Author

Fengduo Bai

Abstract

Abstract: The rapid spread of New Coronavirus in early 2020 has had a tremendous impact on the lives of all mankind. The global economy(GE) has experienced a severe recession. Even the Great Depression of 1930s may exceed the current judgement on whether the outbreak of New Coronavirus is true. The pressure on the GE is still continuing. The historical experience of human development shows that the high price paid by mankind in previous crises is precisely the price of "going to a higher level" after the crisis. This paper aims to investigate the impact of new pneumonia on the health economy of our country and American. This article first discusses the influence of New Coronavirus on the world's first and second largest economies and its impact on economic globalization(EG). Then, based on the classical framework of CGE model, a series of simultaneous equations are used to describe the behavior of macroeconomic system. Assuming that the future covid-19 epidemic will be controlled by the end of March 2020 (optimistic scenario), compared with the situation without covid-19 epidemic, the actual annual GDP will be reduced by 0.55%, i.e. H. The loss was 656.787 billion yuan.

Keywords

Keywords: New Pneumonia, Sino-us Economy, CGE Model, Economic Globalization