December 13, 2020

Economists upbeat over growth prospects but dim on US tensions

After a tough 2020, when growth is expected fall to its lowest in decades despite taking the lead globally in steadily recovering from a historical COVID-19-induced plunge, the Chinese economy is forecast to grow at its fastest rate in nine years in 2021, remaining a ray of sunshine as other major economies will likely continue to bear the brunt of the pandemic, according to a Global Times poll.

However, even as the 20 former officials, noted economists and trade experts surveyed are remarkably upbeat over the growth prospects of the world's second largest economy next year, they were notably pessimistic over improvements in China-US trade ties - one of the biggest external risks for the Chinese economy, with many expecting the incoming US administration to largely continue its tough tone on trade toward China.

Splendid 2021

The Chinese economy is expected to expand by 8.2 percent in 2021, according to the median of the 20 experts surveyed by the Global Times. That would be at its fastest pace since 2011 when the growth rate was above 8 percent for the last time and would signify a remarkable comeback from what is expected to be its slowest pace in over four decades of around 2.1 percent this year.

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https://www.globaltimes.cn/content/1209849.shtml