Why the economy is in a slump

Internal structural problems, the impact of the global epidemic.

1, internal structural problems: traditional industries have been hit, the labor market is out of balance, and there is a lack of innovation, which has led to the economy has been in a slump.

2, the impact of the global epidemic: beginning in late 2019 and early 2020, the global epidemic has had a huge impact on the economy, and many industries, especially small, medium and micro enterprises, have closed down because they could not operate, resulting in a large number of unemployed and declining incomes, and an economic downturn.