Connecting Regions of Asia.

China’s Economy Grows – With ‘Weak Spots’


As most nations around the world struggle with new lockdowns and layoffs during the pandemic, only one major economy has bounced back after bringing the coronavirus mostly under control.
That is  China.
The Chinese economy grew 2.3 percent last year, the country’s National Bureau of Statistics announced on Monday.
 By contrast, the U.S., Japan and many nations in Europe as well as India are expected to report steep falls in output and suffer contraction. 
Exports and infrastructure have fueled the growth in China.
Despite the good news for China, the growth figures were still the lowest in 40 years.
 And there are pockets of weakness, like the lack of jobs for recent college graduates with little experience. 
Hotels and restaurants in inland provinces have not fully recovered like those in the major cities.
So much of China’s success in the past year stemmed from its ability to stamp out the coronavirus — but new outbreaks are challenging that resilience.
 The authorities are starting to reimpose a wide variety of health checks that are discouraging consumers from spending money.

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