January 27, 2022

Could the Chinese economy sail through the year 2022? The world's second-largest economy is well positioned to land at a growth rate above 5 percent this year, and the country is on trajectory to become a high-income country no later than the end of 2023, prominent Chinese economists said, sending an upbeat note for China to prelude a head start in 2022 while quashing a reverberating dim view of the prospects of the Chinese economy. 

Skepticism has increased in recent days after Beijing released slower GDP growth of 4 percent in the last quarter of 2021, which prompted several international organizations including the IMF to cut China's 2022 GDP growth forecast. Some economists pointed to further softness in the property and consumption sectors, while some Western politicians vilified China's zero-tolerance COVID strategy, hinting at tremendous pain inflicted.

The above-mentioned remarks from renowned Chinese economists, coming after a slew of key interest rate cuts in recent weeks to shore up the economy, also offer a much-needed assurance to placate the market, against the backdrop of the US Federal Reserve's indication of a looming interest rate hike that sends a tightening turnaround in global monetary policy.

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https://www.globaltimes.cn/page/202201/1250099.shtml