Image: Maksym Yemelyanov/Adobe Stock China saw 2.1% growth in 2020, an amazing accomplishment given that the economy was shut down for nearly six months. And this year, the World Bank projects 7.9% growth for the "world’s factory."
Thanks to a successful COVID-19 containment policy, China has emerged from the pandemic largely unscathed. Consumer spending, infrastructure, factory production, and private investment all experienced major upswings in the second half of last year. As a result, China saw 2.1% growth in 2020, an almost unbelievable feat given an economy that was shut down for nearly six months.
Add President Biden’s willingness to at least restart talks with China, the recently signed EU-China trade agreement, and the lifting of COVID lockdown orders throughout the United States, and it certainly appears that China, the United States, and the world are heading in the right direction.