The International Monetary Fund (IMF) has acknowledged that the global economy remained positive in 2020 due to China’s economic activity.
The global economic growth rate would have been negative without the Chinese economy in the global covid epidemic. The International Monetary Fund said.
It should be noted that the recent IMF report “World Economic Outlook” states that China’s economic recovery has given impetus to emerging new markets. The report for the first half of 2021 predicts that the global economy as a whole will continue to decline due to the continued spread of the coronavirus.
At a seminar organized by the Global Think Tank on January 13. An IMF official pointed out that the decline in investment and the increase in the debt burden are significant effects of the epidemic on the economies of various countries. However, China’s economic recovery in East Asia is extraordinary and important. Because it is the catalyst for economic recovery in other world economies. Especially East Asia, and emerging new economies.
The IMF report points out that China has become the only major economy to survive the economic downturn in 2020. While China’s GDP growth rate will reach 7.9 percent in 2021. Meanwhile, economic growth in a dynamic and emerging economies/markets through China will increase by 5% in the new year. Up from the previous estimate of 4.6%.
In view of the decline in global investment, China’s investment and trade volume has remained stable, with China considering consumption as the main engine of growth while continuing to invest in infrastructure.
In addition, China has promoted digitization in the areas of finance and consumption on a permanent basis. This recovery model provided countries with the experience of sustainable economic growth after the epidemic.
In this way, China not only meets its needs but also provides medical supplies to the world. Ensuring the revival and stability of the local economy. At the same time, China has played a role in the global economic recovery.