How Bad Is China’s Economy?

USA World

Karishma Vaswani, BBC: How bad are China’s economic woes?

While economists say China’s economic data can’t always be trusted, they now have a new dilemma – there is no data.

On Friday, China said it wouldn’t be setting a target for economic growth for this year.

That’s unprecedented – the Chinese government hasn’t done this since it began publishing such goals in 1990.

Abandoning the growth target is an acknowledgement of just how difficult a recovery in China will be in a post pandemic era.

And while recent figures have shown that China is on the way out of its slowdown: it’s an uneven recovery.

First, the good news.

For the first time since the pandemic hit China – factories are making goods again.

Industrial output in April grew by a better-than-expected 3.9% – a marked difference from the collapse of 13.5% in the first two months of this year as massive lockdowns were imposed.

Read more ….

WNU Editor: China’s economy is coming back to pre-Covid-19. But the above BBC report is saying the same thing that my friends and contacts in China are telling me. Business is coming back, but it is not a normal return.

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