While the EU and the United States, which are direct economic competitors, continue to be in deep crisis, the economies of China and Japan are operating at full speed again.
According to the report, as announced by the Tokyo government on the 16th, Japan, the world’s third largest economy, has recovered from a record-breaking downturn: GDP grew by 21.4% in the third quarter and is expected to grow positively throughout the year. The situation in China looks better.
According to reports, Japan’s GDP growth has exceeded the expectations of many experts. The Tokyo stock market rose significantly in response, and the Nikkei index closed at its highest level in about 29 years.
The report pointed out that in China, strong economic data indicates that growth in the fourth quarter of this year will be faster. According to data from the National Bureau of Statistics of China, consumer goods retail spending increased again by 4.3% in October, which was more pronounced than the 3.3% increase in September. Compared with the same period last year, industrial production grew by 6.9% faster than expected. Experts now predict that China’s GDP will grow by 5% to 6% this year. In short, China may be the only major economy growing this year.
According to reports, since this summer, there have been only sporadic small-scale endemic epidemics in China, and they have all been contained immediately. Today, the country has only a few imported cases, and they can easily be screened out through strict entry inspections.
