China's economy has been growing at a very impressive rate after easing up pandemic restrictions. This quarter GDP grew by 4.5%. Retail sales have gone up to 10.6%. China's economy is expected to grow by 6% by the end of the year. Analysts say that inflation is very low in China as compared to its global peers. They expect more government spending with a stimulus package later on this year. They will likely be pushing forward infrastructure investments, which will include building metro lines and increasing the number of 5G towers.
https://www.nbcnews.com/news/world/chinas-economy-grew-45-first-quarter-fastest-year-rcna80163
It seems like China is finally bouncing back from covid after a few years. It will be interesting to see how long they maintain this high growth rate.
ReplyDeleteI wonder how much of an impact China's stimulus package is going to have on their economy, and how much their government decides to spend.
ReplyDelete