By Wang Huiyao | Founder of the Center for China and Globalization(CCG)

The pandemic has cast a severe negative influence on the world economy. The Global Economic Outlook Report released by the Organization for Economic Cooperation and Development (OECD) shows that global GDP fell by 4.2% in 2020, which means that the total global economy dropped from $87.75 trillion in 2019 to $84.07 trillion in 2020, shrinking by $3.68 trillion.

The United States, Japan, Germany and other developed countries, as well as Russia, India, Brazil and other emerging markets and developing economies, all have been “tripped” by the epidemic, with the national GDP decreased by 3.8% to 11% separately.

China’s economy is really going against this trend. Thanks to strict and effective measures, China quickly brought the epidemic under control in the second quarter of 2020 and took the lead in work resumption. The International Monetary Fund (IMF) has forecast that China will be the only major economy in the world to achieve positive economic growth in 2020.

The world expects China’s economic recovery can help to boost other countries and regions’ economy. The EU would become a more relevant partner for Asia through the cooperation with China, especially through the new investment agreement with China.

More…

From ispionline, 2021-3-5