Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

China's economy is bouncing back: WSJ

Xinhua | Updated: 2020-08-26 13:15
Share
Share - WeChat
An employee inspects imported cars at Ningbo Zhoushan port in Zhejiang province in May. [Photo by Zhang Yongtao/For China Daily]

NEW YORK -- As much of the world struggles to contain the coronavirus, China's recovery is gaining momentum, positioning it to further close its gap with the US economy, according to an article, "China's Economy, Bouncing Back, Gains on the US," published on The Wall Street Journal on Tuesday.

According to the article, China is the only major economy expected to grow this year. JP Morgan recently boosted its 2020 China growth forecast to 2.5 percent from 1.3 percent in April. Economists at the World Bank and elsewhere have also upgraded their forecasts for China.

China, the world's second-largest economy in real GDP terms, has slowly been catching up on the United States. Economists say China's quick rebound from COVID-19 will accelerate that process, the article said.

Homi Kharas, a senior global economics and development fellow at the Brookings Institution, said the coronavirus puts China's economy on track to reach parity with the US in 2028 in absolute terms, using current dollars, two years faster than his pre-coronavirus estimate, according to the article.

"China will emerge even stronger as the largest economy in the developing world," the article quoted Kharas as saying.

According to the article, China's factories were among the world's first to reopen in April, which helped China grab market share in global trade.

Companies from Marriott International Inc to Starbucks Corp reported strong second-quarter growth in China, as the rest of the world pulled back.

The article added that before the coronavirus, Deutsche Bank estimated China's economy would grow by roughly 26 percent between 2019 and 2023, versus 8.5 percent for the United States over the same period. Now, taking into account the impact of the pandemic, the bank expects China's economic expansion to moderate slightly to 24 percent between 2019 and 2023, while the US over that stretch will have grown by 3.9 percent - less than half the original projection.

Yet, China still faces headwinds. It counts on exports for roughly one-fifth of its economic output, making it reliant on customers in the US and Europe overcoming the virus. It must also prevent its own resurgence in COVID-19 cases, the article said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 精品午夜寂寞黄网站在线| 97人人模人人爽人人少妇| 杨钰莹欲乱小说| 免费中国jlzzjlzz在线播放| 国产国产在线播放你懂的| 在线视频第二页| 中文字幕在线欧美| 最近手机中文字幕1页| 亚洲色成人网一二三区| 老子影院午夜理伦手机不卡| 国产爆乳无码一区二区麻豆| a级国产乱理伦片在线观| 无码专区永久免费AV网站| 亚洲sss综合天堂久久久| 狠狠做五月深爱婷婷天天综合| 国产乱子伦农村XXXX| 巨胸喷奶水www永久免费| 夜夜橹橹网站夜夜橹橹| 中国娇小与黑人巨大交| 日韩国产有码在线观看视频| 亚洲成a人无码| 琪琪see色原网一区二区| 嘟嘟嘟www在线观看免费高清| 国产在线乱子伦一区二区| 国产视频一区二区在线观看| а√最新版地址在线天堂| 无码中文人妻在线一区二区三区| 久草香蕉视频在线观看| 欧美日韩国产va另类| 人人爽天天碰天天躁夜夜躁 | 日本一本在线播放| 亚洲一区二区三区在线播放| 永久域名在线观看视频| 再深点灬舒服灬太大了ship | 久久中文字幕网站篠田优| 最近中文字幕国语免费完整| 亚洲快播电影网| 波多野结衣之cesd819| 免费视频成人片在线观看| 老师在办公室被躁在线观看| 国产免费久久精品|