A decade after the financial crisis, the global economic recovery has come to an end. Anbound observes that as the largest emerging market country, China's latest economic statistics show that its economic momentum is insufficient. Japan has ended its previous eight consecutive quarters of economic expansion, with real GDP declining in the first quarter, the worst performance since the fourth quarter of 2014. The GDP growth in the first quarter of the Euro zone was the lowest growth rate since the second quarter of 2016, especially as the German economy grew less than expected. Taken together, the synchronized economic recovery spurred by central banks' concession has ended and the global economy has seen a declining trend. This is the external environment that China will face in the future.