China will be the only major economy in the world to grow in 2020, a year marked by the covid-19 pandemic, the International Monetary Fund (IMF) estimated today in the Global Economic Outlook report. The IMF estimated the Chinese economy to grow 1.9% this year and 8.2% in 2021.
This is an increase of nine tenths of the growth projections for this year, highlighting the “rapid recovery” of the Chinese economy in the second quarter. The projection for 2021 remained unchanged.
The outlook for China “is much better” than for the rest of the emerging economies, the agency added. “Activity returned to normal more quickly than expected, after almost the whole country reopened in April,” he said.
“The second quarter saw a positive surprise, thanks to strong support from the State and resistance from exports,” he added.
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