NEW YORK, April 8 (Xinhua) -- China is capable of navigating its economy amid the COVID-19 fallout, and opportunities for the world's largest developing economy are promising in the long run despite virus-prompted challenges, economists and market strategists have said.
"I look at the daily measures of travel, traffic congestion, coal consumption, they're looking better," which indicates"China is in good control over the production or supply side of its economy," Stephen Roach, a senior fellow at Yale University's Jackson Institute of Global Affairs, told Xinhua in a recent phone interview.
More than 98 percent of major industrial companies across China have resumed operations, bolstering the March purchasing managers' index to re-enter the expansion zone after a weak February reading. Experts at UBS Global Wealth Management expect a noticeable dip in Q1, followed by a gradual recovery from Q2 onwards for the Chinese economy, citing two factors that bolster the recovery path forward.
While cheering the positive developments, experts cautioned that headwinds remain especially on the demand side. The U.S. economist said China and other major economies in the world are recommended to mull future strategies that are flexible and"adapt to the new post-COVID economic and geopolitical environment."
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