Investment, export drive China’s economic recovery: UN economist
Growth in investment and exports as well as some other domestic factors are driving China’s economic recovery, said a UN economist.
In a mid-year update of its World Economic Situation and Prospects 2021, the UN Department of Economic and Social Affairs (DESA) revised its growth forecast for China from 7.2 percent to 8.2 percent.
Hamid Rashid, the lead author of the mid-year update, attributed the upward revision to the robust investment in China in the last six months and the significant increase in merchant exports, such as electronics and electrical equipment, digital equipment and others.
Daily Times Widening inequality casts a shadow over projected 5.4% global growth in 2021
May 13, 2021
While the global growth outlook has improved, led by robust rebound in China and the United States, surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, says the latest United Nations forecast released today.
According to the World Economic Situation and Prospects (WESP) mid-2021 report, following a sharp contraction of 3.6 per cent in 2020, the global economy is now projected to expand by 5.4 per cent in 2021, reflecting an upward revision from the UN forecasts released in January. Amid rapid vaccinations and continued fiscal and monetary support measures, China and the United States – the two largest economies – are on the path to recovery.
Caribbean News Global
May 12, 2021
NEW YORK, USA – While the global growth outlook has improved, led by robust rebound in China and the United States, surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy, says the latest United Nations forecast released May 11, 2021.
According to the World Economic Situation and Prospects (WESP) mid-2021 report, following a sharp contraction of 3.6 per cent in 2020, the global economy is now projected to expand by 5.4 percent in 2021, reflecting an upward revision from the UN forecasts released in January. Amid rapid vaccinations and continued fiscal and monetary support measures, China and the United States – the two largest economies – are on the path to recovery. In contrast, the growth outlook in several countries in South Asia, sub-Saharan Africa, and Latin America and the Caribbean, remains fragile and uncertain. For many countries, economic output is o
Wednesday, 12 May 2021, 1:54 pm
New York, 11 May While the global
growth outlook has improved, led by robust rebound in China
and the United States, surging COVID-19 infections and
inadequate vaccination progress in many countries threaten a
broad-based recovery of the world economy, says the latest
United Nations forecast released today.
According to
the World Economic Situation and Prospects (WESP) mid-2021
report, following a sharp contraction of 3.6 per cent in
2020, the global economy is now projected to expand by 5.4
per cent in 2021, reflecting an upward revision from the UN
forecasts released in January. Amid rapid vaccinations and
continued fiscal and monetary support measures, China and
United Nations raises global economic growth forecast to 5.4% in 2021
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Last Updated: May 12, 2021, 12:01 PM IST
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Synopsis
In raising its projection from January of 4.7% growth, the U.N. s mid-2021 World Economic Situation and Prospects report pointed to the rapid vaccine rollout in a few large economies led by the U.S. and China and an increase in global trade in merchandise and manufactured goods that has already reached its pre-pandemic level.
Agencies
For 2022, the U.N. forecast that the global economy will grow by about 4.7% is higher than the IMF s projection of 4.4%.
The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery.