Workers sort out parcels for delivery in Beijing Wednesday, July 14, 2021. China's economic growth slowed to a still-strong 7.9% over a year ago in the three months ending in June as a rebound from the coronavirus leveled off.
The United States and other major economies are bouncing back, but some are hampered by the spread of new virus variants. The rapid U.S. recovery has led the Federal Reserve to suggest it might start unwinding its stimulus earlier than planned, late next year instead of in 2023. China’s outlook is clouded by a lingering trade war with Washington over Beijing’s industrial development tactics. President Joe Biden has said he wants better ties with Beijing but has yet to say whether he will roll back tariff hikes imposed by his predecessor, Donald Trump.
Exporters benefited from their relatively early return to work while foreign competitors were hampered by anti-disease controls. Exports surged 32.2% in June over a year earlier, though a government spokesman warned growth might weaken due to uncertain global conditions. China’s economy shrank by 6.8% in last year’s first quarter, the worst performance since at least the mid-1960s. Activity started to recover in the second quarter, when the economy expanded by 3.2% over a year earlier. That accelerated to 4.9% in the third quarter and 6.5% in the final three months of the year. For the full year, growth was 2.3%, while the U.S., European and Japanese economies contracted.
By 2025 China’s economy will surpass the US. At least that’s what it looks like. In the US, billionaires are eating the middle class. If we don’t get this inflation under control we could slowly slide into another recession by fall 2022.
Come on!! Walmart, Amazon, Dollar Stores -would close... without China.
Just wait until we straighten everything out here with these radicals. They’ll be lucky to be able to open a food joint on 22nd & Wentworth. The Eagle is sharpening her talons. 🇺🇸
Idiots
AND all those clean city developments.
wow
They mess the world and flaunt their numbers. And you help. wuhanvirus
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