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They were the first to get sick, but they are also the first to heal. The world’s second-largest economy experienced GDP growth in the third quarter, 4.9% more than a year ago. Translated: growth for the first three quarters of the year of 0.7% compared to the previous year.
China’s GDP throws another kick at Covid-19. Thus the Asian country, where the coronavirus pandemic began, but which has so far proven impervious to the second wave of the coronavirus (daily infections in China can be counted on the fingers of the hands according to official estimates), as predicted by the Fund Monetary. International will be the only one in the world to close 2020 with growing national wealth.
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According to the National Bureau of Statistics, China’s GDP in January-September is in fact returning to positive terrain (+ 0.7%) and after the historic January-March slump, it can aim to close 2020 at + 2%, according to governor. of the Central Bank Yi Gang, or in the limit of + 1.9% if we listen to the somewhat more cautious forecasts of the IMF.
In the first quarter, Chinese GDP had fallen 6.8%, then in the second it had increased 3.2%, now it is at 72.278.6 billion yuan. Compared to 2019, when it reached + 6.1%, the figures that photograph the health of the Asian economy are clearly more contained, but compared to the rest of the world there is still no competition.
It should be remembered that the IMF has always forecast for 2020 that the Italian economy will contract by 10.6%. Euroland’s GDP will fall 8.3%. For the United States, the Fund estimates a decline in GDP this year of 4.3%. Between 2020 and 2025, the pandemic will cause a loss of $ 28 trillion in global gross domestic product. Almost half of these, 11 trillion, will go up in smoke by 2020-2021, but not in China.
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It’s not just the GDP-related numbers that are smiling in Beijing. Industrial production registered a new jump in September, this time of 6.9% per year. Analyst estimates were exceeded. By offsetting the drop in GDP in the first part of the year, the Chinese economy has conquered pole position in 2021, when the economies of other countries should also recover. Beijing’s gross domestic product, calculates the International Monetary Fund, in 2021 may point to an increase of 8.2%. Italy’s GDP next year is expected to grow 5.3% from the latest World Economic Outlook. In the Eurozone a + 5.2% is expected. Finally, an improvement in the GDP of the United States of 3.1% was estimated.
Last updated: 14:20
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