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Once China was an economically strong nation with its glorious history. with phases of time, China has faced internal fragmentation, historical humiliation, colonial evasion, and economic crunch. In modern times China has become one of the most powerful economies of the globe with communist supremacy. In the more than 50 years since the founding of the People’s Republic of China (PRC) in 1949, China has undergone an unusual and tumultuous development process, passing through revolution, socialism, and Maoist radicalism, and then gradualist economic reform and rapid economic growth. The PRC government after 1949 at first created stability and economic growth, and rapidly left behind an era of war, civil war, and widespread poverty. Economic and political ideologies have changed completely, and many have been discarded. Institutions have been reshaped. The material basis of the economy has been completely rebuilt. Moreover, it is now clear that the Chinese approach of incremental reform and steady economic progress has succeeded in practice. There is the global pandemic spreading throughout the world and which has driven the global economy into a downturn and recession in the generation and there is panic radiating throughout the society. Various reports have indicated that developing and developed, all the nations might have to face the tragic economic crises due to coronavirus any time after the virus will come into control. References Lin, J.Y. (2012). Demystifying the Chinese Economy, New York: Cambridge University Press White, G. (1993). The Politics of Economic Reform in Post-Mao China, London: The Macmillan Press Ltd