Abstract : China's "outstanding" economic performance this year will boost a recovery in the global economy from the impact of the COVID-19 pandemic, a renowned scholar has said.
SINGAPORE, Dec. 16 (Xinhua) — China’s “outstanding” economic performance this year will boost a recovery in the global economy from the impact of the COVID-19 pandemic, a renowned scholar has said.
With the effective containment of COVID-19, China’s vigorous resumption of production has served as an important driving force for a global economic recovery, Chen Gang, assistant director of the East Asian Institute of the National University of Singapore, told Xinhua in a recent interview.
“China’s share of the global economy and its contribution to global economic growth will continue to rise this year,” Chen said.
Recent foreign trade data show that China’s exports continue to increase year-on-year. Chen highlighted the “resilience of the Chinese economy against the backdrop of the global economic downturn.”
An expanding domestic demand in China will not only boost Chinese economic growth but also create more business opportunities for other countries, thus driving a global economic recovery, he added.
As to the recently-announced 14th Five-Year Plan, he said the plan has revealed “a magnificent blueprint for high-quality economic development,” which is “a new historical declaration,” adding that China’s new economic development pattern of “dual circulation” will enable the world the access to a more attractive and broader market.
The International Monetary Fund, the Organization for Economic Cooperation and Development and other international organizations have previously released reports stating that the world economy will fall into a contraction this year due to the pandemic, and China will be the only major economy to register positive growth. Enditem
About Xinhua Silk Road
Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).
Source: Interview: China’s economic growth will benefit global recovery, scholar says