The leadership in Beijing has set growth at a relatively low six percent. Apparently, it fears overheating and stresses that it is aiming for "qualitative" growth. The IMF expects growth of over eight percent. Exports, in particular, have been booming for several months.
By Felix Lee
Even if the World Bank now applies a different standard to China and poverty in the most populous country is still far from being overcome, the Chinese leadership has achieved a great deal in the fight against poverty. The goal of urbanizing the rural population is now to give way to revitalizing rural regions.
By Felix Lee
The contrast in economic recovery between the US and China is clearly felt in the services sector after their lockdowns, and could stand in the way of the US achieving a V-shaped economic recovery like China's economy is currently exemplifying. Roach sees China's crisis strategy at an advantage so far.
By Ning Wang
So far, East Asian countries have held up well economically against the pandemic. But a withdrawal of liquidity from emerging markets could spell disaster for Asian economies, which rely heavily on short-term foreign capital inflows. But a tougher US policy under Biden against China would also dim East Asia's economic prospects, said Lee Jong-Wha, who was long the Chief Economist at the Asian Development Bank and now teaches economics at Korea University.
By Ning Wang
