China is one of the very few economies that were able to record growth last year, writes DZ BANK in its “Macroeconomics – Economic Perspectives – Economics Weekly“. In the final quarter, the Chinese economy even returned to the growth path of pre-Corona times. After all, the country in which the pandemic originated can count itself among the winners of the crisis.
“China’s export industry benefited from exceptional demand effects last year”, and the analysts remind the reader of the following: “Initially, the huge needs for medical protective equipment, then the shift in consumption patterns in the developed world – out of services and into industrial products. Additionally, Beijing’s strict Corona policy has restored the confidence of Chinese consumers. A second wave of infection should still be prevented. China should continue to be one of the top growth performers this year.”