Since its debt problem started to deteriorate in the second half of 2021, at least 20 months had passed before Evergrande came up with a clear debt restructuring plan, showing the complexity of the debt crisis and the large amount of capital involved, said Yan.

严表示，自2021年下半年债务问题开始恶化以来，至少20个月过去了，恒大才拿出明确的债务重组计划，这表明了债务危机的复杂性和所涉及的大量资金。

China Evergrande Group projected the group's revenue from contracts would extend the downward trend in September, which means the company's sales inflow would continue to deteriorate and the company's cash flow and liquidity would be under great pressure, the Hong Kong-listed company said in a filing on Tuesday morning.

Overcapacity, poor corporate governance and low productivity had dragged down profits of China's SOEs, which deteriorated in 2015.

Also, at the beginning of this year, there were fears that the global economic downturn, geopolitical deterioration, coupled with the establishment of US industrial and supply chain alliances and the consolidation of diplomatic alliances, will inevitably make China's external situation deteriorate comprehensively, leading to a further downtrend in China's foreign trade.

Jason Yu, general manager of Kantar Worldpanel China, said its statistics show that the performance of hypermarkets continued to deteriorate, with sales falling 12 percent in the first quarter of this year.

Yet for the manufacturing PMI, employment conditions deteriorated and price levels declined notably.

Iris Pang, chief China economist at Dutch bank ING, said there is no immediate need for the government to put massive stimulus into the economy, but it will probably keep its plan for infrastructure investment as a supplementary growth engine as her team expects the external market to deteriorate further this year.

"With investor sentiment projected to deteriorate and worsening risks of debt distress in developing economies, lower overall global growth can be expected compared to previous projections," Beirne said.

While the economy may be poised for a gradual pickup, experts said it is still essential for the country to step up growth stabilization efforts as the foundation for domestic consumption recovery is not yet firm while overseas demand could deteriorate.

"There is an urgent need for China to expand domestic demand, as external demand could deteriorate next year due to a slowdown of the world economy," said Liu Chunsheng, an associate professor at the Central University of Finance and Economics.

The situation further deteriorated in the eurozone in June.

Yet they still stressed the need to closely monitor risks surrounding rising global commodity prices as they could deteriorate manufacturers' profitability and spark investor jitters over monetary tightening.

However, liquidity conditions are still likely to deteriorate.

In "US Industry Priorities for US-China Commercial Relations", a report the USCBC released last month to present recommendations for the new administration, the organization said the phase-one deal "has served as a stabilizing force while the bilateral relationship has deteriorated in most other respects".

Moreover, rather than cementing US semiconductor dominance, such moves will further deteriorate global protracted chip supply woes, which eventually will bite back on US companies.

In contrast, office utilization in Southeast Asia and India had deteriorated since the previous survey due to the reintroduction of restrictions on office capacity, the survey said.

More importantly, the product obtained through the traditional method still contains a significant amount of unfavorable impurities that may largely deteriorate the performance and limit the application of the product.

"Over the year, the members of our team have treated 5,000 to 6,000 patients with mild COVID-19 symptoms, and none of them deteriorated into severe cases," Chen said.

Although the pandemic has deteriorated the global investment environment, the CIC managed to achieve a better-than-benchmark performance in overseas investment the first half of this year as it swiftly shifted into an emergency management mode, the company said.

Xin Guobin, vice-minister of industry and information technology, said the trade situation is likely to deteriorate as the epidemic spreads.

"Domestic manufacturing demand has improved significantly, and foreign demand has not deteriorated as quickly as last year," said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.

However, if soybeans are stored at a high moisture level in temporary facilities without the ability to manage temperature and moisture, such as large white silage bags seen on many farms, the soybeans can deteriorate quickly, added Olson.

However, due to its intensive asset investment and difficulty to profit in short term, the car-sharing business has suffered from development restrictions, which deteriorated in the pandemic outbreak, insiders said.

Earlier this month BMW lowered its profit expectations for its automotive and motorcycles divisions, citing worse-than-expected demand which would deteriorate in the second quarter.

Some analysts say the situation may continue to deteriorate for a while as China is cutting the subsidies and will stop the financial stimuli altogether by the end of 2020.

But the chemical can deteriorate when exposed to high temperatures and airborne moisture.

The general public is often fed up with large companies, especially when income distribution continues to deteriorate.

"If the market does not deteriorate, we are confident of maintaining good growth," Yu said.

In conclusion, if the local labor market does not deteriorate significantly, it will be very difficult for the US to drop its year-on-year growth target of core CPI to 2 percent in the short term and it will be unlikely for the Fed to cut interest rates either.

This predicament will also lead to deteriorated credit quality and lower banking profits, analysts said.

Banks need to raise loan loss provisions, the capital buffer, as their long-term rating outlooks have deteriorated due to the COVID-19 epidemic, said analysts.

Market expectations have deteriorated as reflected in the poor purchasing managers index readings in major advanced economies.

Market expectations have deteriorated as reflected in the poor Purchasing Managers' Index readings in major advanced economies.

"It is quite different from 2018 when earnings growth of most companies deteriorated.

The corporate sector's leveraging ratio may not deteriorate this year although some default cases happened recently.

The exchange rate fluctuation, as Huang explained, reflected market sentiment as the global trade environment has deteriorated.

China’s credit rating agency Dagong downgradedxa0sovereign credit rating of the United States by one notch from A- to BBB+ on Tuesday, as debt repayment capacity is expected to continue to deteriorate with its massive tax cuts plan.

“The perennialxa0negative impactxa0of the superstructure on the economic base has continued to deteriorate the debtxa0repaymentxa0sourcesxa0of the federalxa0government, and this trend willxa0be further exacerbated by the government's massivexa0tax cuts,”xa0Dagong Global Credit Company said, after the US voted to pass the tax cut plan in November.

It is estimated that ratio of fiscal revenue-to-debt of the federal government will be 14.9xa0percentxa0and 14.2xa0percentxa0in 2018 and 2019 respectively, and the ratio will deteriorate to 12.1 percent in 2022, the agency said.