Voice from China
QUARTERLY REPORT | JANUARY 2021
To state the obvious, 2020 was an unusual year — marred by a trade war, rising international tensions and a global pandemic. Although the site of COVID-19’s initial outbreak, China has fared better than most nations, and the government's strict measures to control the disease have resulted in the number of new cases remaining stable.
With a net positive GDP for the year, the country is now on a solid recovery track. The new year, meanwhile, has begun on a hopeful note with the introduction of vaccines and a promising shift in the world’s leadership dynamic — and we are optimistic that 2021 will be a much better year.
For the first three quarters of 2020, China's GDP grew at a rate of 0.7% — the only country among the world’s 15 largest economies to achieve positive growth for the period. For the full year, the International Monetary Fund expects the country to register growth of 1.9%, surging to 8.2% in 2021.
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