China’s economy has grown 4.9 per cent in the third quarter from last year proving the country is back to its pre-pandemic trajectory with consumer spending and industrial production going back to normal levels. The figures are far more favourable than the dire economic data coming out of most Western countries, showing how China has bounced back quickly despite being the first country to suffer the coronavirus outbreak. As the virus spread across the globe, China started to bring the outbreak under control and began to reopen its economy, growing 6.8 per cent in the first quarter of this year, and 3.2 per cent in the April-June quarter. China has been widely condemned for its handling of coronavirus. After initially covering up the outbreak, Beijing obscured an investigation into how it started and published infection rates which have been widely questioned and partly blamed for the West’s slow response to prepare for the pandemic. Since China fought off the outbreak, Chinese firms have taken advantage of their good fortune while their global rivals grapple with reduced manufacturing capacity. Chinese firms have benefited from strong global demand for masks and medical supplies, with exports rising 9.9 per cent in September from a year earlier… Read full this story
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China's economy grows 4.9% as industrial production surges, retail sales rise and unemployment sinks - while the rest of the world is crippled by coronavirus epidemic that started in Wuhan have 296 words, post on www.dailymail.co.uk at October 19, 2020. This is cached page on The World Articles. If you want remove this page, please contact us.