RFA, Dec 24, 2020
After a tumultuous year of partial recovery and record lows, China's economy can look forward to a booming rebound in 2021.
Most analysts expect the country to bounce back from the deadly damage of the COVID-19 crisis with high economic growth rates last seen nearly a decade ago.
Despite the lockdown in early 2020 that dragged the economy into a 6.8-percent contraction in the first quarter, China managed to stage a tentative turnaround with positive growth of 3.2 percent in the second quarter and more solid 4.9-percent expansion in the third, according to the National Bureau of Statistics (NBS).
In October, the International Monetary Fund projected that gross domestic product growth for the full year would reach 1.9 percent, the lowest for China on record but the highest among the world's major economies.
In the coming year, the IMF expects China's recovery to soar with an 8.2-percent growth rate, while world output battles back from a loss of 4.4 percent in 2020 to growth of 5.2 percent.
This week, the World Bank confirmed its earlier estimate of 7.9-percent growth next year.
But the forecasts have been heavily qualified with caution in the face of "tremendous uncertainty."
In full: https://www.rfa.org/english/commentaries/energy_watch/economy-2021-12242020170811.html
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