BEIJING (AFP) - China returned to growth in the second quarter after the coronavirus pandemic handed the world's second largest economy its first contraction in decades, according to an AFP poll of analysts.. Read more at straitstimes.com.
BEIJING - China returned to growth in the second quarter after the coronavirus pandemic handed the world's second largest economy its first contraction in decades, according to an AFP poll of analysts.
But analysts forecast China will be the only major economy to experience positive growth this year - partly because it was first to be hit by Covid-19 and therefore, first to recover. China is expected to post 1.7 per cent growth for the full year, according to the economists surveyed by AFP, compared with IMF forecasts of a global contraction.
Oxford Economics' lead economist Tommy Wu expects China to continue recovering from the second quarter onwards"as it is no longer being held back by supply-side disruptions" with factories back to life. But Dr Xu said there is high uncertainty ahead:"It remains to be seen how the slowdown in external demand will dampen the recovery."
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