April 21, 2020

As more encouraging signs emerge that the Chinese economy is on a steady path to recovery, expectation is also rising for the world's second largest economy and biggest growth driver to play a larger role in helping revive the global economy, which is expected to see the worst crisis since the Great Depression due to the global coronavirus pandemic.

After recording the biggest GDP contraction in decades, China, powered by a raft of robust fiscal and monetary policies, is seeing a speedy recovery in a wide range of sectors from industrial to new investments, offering a glimpse of hope for global demand in everything from agricultural products and car parts to services, Chinese analysts said on Tuesday.

However, unlike during the global financial crisis in 2008, when China's massive stimulus packages were widely credited to have saved the global economy, China will not open the floodgate of stimulus, but will instead focus on targeted measures that are essential for sustainable growth in not just the Chinese economy but the globe, analysts noted. Also global cooperation in saving the world economy is necessary, including coordinated efforts to reopen supply chains, they added.

Read more:

https://www.globaltimes.cn/content/1186333.shtml