Abandoning the growth target is an acknowledgement of just how difficult a recovery in China will be in a post pandemic era. And while recent figures have shown that China is on the way out of its slowdown: it's an uneven recovery. First, the good news. For the first time since the pandemic hit China - factories are making goods again. Industrial output in April grew by a better-than-expected 3.9% - a marked difference from the collapse of 13.5% in the first two months of this year as massive lockdowns were imposed.
fredag 22. mai 2020
How bad are China's economic woes?
While economists say China's economic data can't always be trusted, they now have a new dilemma - there is no data. On Friday, China said it wouldn't be setting a target for economic growth for this year. That's unprecedented - the Chinese government hasn't done this since it began publishing such goals in 1990.
Abandoning the growth target is an acknowledgement of just how difficult a recovery in China will be in a post pandemic era. And while recent figures have shown that China is on the way out of its slowdown: it's an uneven recovery. First, the good news. For the first time since the pandemic hit China - factories are making goods again. Industrial output in April grew by a better-than-expected 3.9% - a marked difference from the collapse of 13.5% in the first two months of this year as massive lockdowns were imposed.
Abandoning the growth target is an acknowledgement of just how difficult a recovery in China will be in a post pandemic era. And while recent figures have shown that China is on the way out of its slowdown: it's an uneven recovery. First, the good news. For the first time since the pandemic hit China - factories are making goods again. Industrial output in April grew by a better-than-expected 3.9% - a marked difference from the collapse of 13.5% in the first two months of this year as massive lockdowns were imposed.
