Chinese economy has had positive growth and won the Govt-19 epidemic – 01/14/2021

Chinese economy has had positive growth and won the Govt-19 epidemic - 01/14/2021

China is the only country in the world to record a positive growth (+ 1.9%) in commodity trade by 2020. The statement was made by Li Qiwen, spokesman for the Chinese Customs Administration. This Thursday (14) press.

China is the only country in the world to record a positive growth (+ 1.9%) in commodity trade by 2020. The statement was made by Li Qiwen, spokesman for the Chinese Customs Administration. This Thursday (14) press.

Stephen Lagarde, Reporter of RFI in Beijing

China returns in early April “World Factory. “The country’s industries sent buses to search for workers in the provinces isolated due to the virus, while viral pneumonia stopped shifting production to countries in labor-cheap South and Southeast Asia.

Data released on Thursday show that locks and security measures have generated strong growth in Chinese foreign trade.

Exports of masks and protective equipment increased by 31% in one year, in addition to limited consumer electronics products worldwide. The result was a trade surplus of $ 62 billion in November.

Global growth depends on China

Despite tariffs imposed by US President Donald Trump, the Chinese economy also strengthened in the financial markets.

Last year, amid the epidemic, demand for medical and electronic products for long-distance work boosted Chinese exports to the United States. On the other hand, Iris Pong, an economist at ING Bank, says health restrictions in the United States are a break for trade with China. In 2020, the Chinese recorded a trade surplus of 7.1%, with US $ 316.9 billion.

Nevertheless, Beijing has made “continuous efforts to fulfill its commitment” to Washington, according to investment bank Nomura analyst Ding Lu, citing a 45% increase in Chinese imports from the United States in December.

READ  How a young woman contributed to the resignation of Tokyo Sports President | #DontBeSilent

Population aging is a concern

Thus, global growth is higher than ever before in China, but the path to reach the United States is even longer.

The age of the Chinese population, government debt and a private sector that relies on the government are factors that are detrimental to the country in its race to become a major global economic power.

(RFI and AFP)

You May Also Like

About the Author: Max Grant

Devoted web lover. Food expert. Hardcore twitter maven. Thinker. Freelance organizer. Social media enthusiast. Creator. Beer buff.

Leave a Reply

Your email address will not be published. Required fields are marked *