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Omar Faruk
Jul 14, 2022
In Welcome to the Forum
During the global financial crisis from 2008 to 2009, the Chinese government's bailout funds accounted for 10% of GDP. Now, the bailout funds from Japan, the United States and Germany have accounted for 20%, 13% and 10% of GDP respectively. So China still has a lot of room for maneuver on this issue. Chinese Premier Li Keqiang will give a government work report on the opening day of the National People's Congress. At that time, in addition to announcing China's economic growth target for ghost mannequin effect this year (edited), he is likely to announce a number of large-scale infrastructure projects. China's state-owned construction companies have indicated that orders are growing. But a comprehensive rescue plan to save the world's economy from the crisis won't come, and Beijing wants to rein in debt growth anyway. China's total debt currently accounts for about 250% of GDP, but China's total foreign debt is very small, and Beijing wants to continue to maintain this independence. steady return to normalcy In any case, China's economic data offers some hope that China is slowly but steadily on the road to return to normalcy. In the first quarter of this year, China's GDP fell 6.8% from a year earlier. This is the worst recession in China's economy since 1976. But in April, Chinese exports unexpectedly rose 3.5 percent, a good sign. The trade surplus reached about $45 billion. At the same time, industrial production has also recovered to the level of the same period last year (2019). Western analysts believe that the Chinese economy is even expected to grow by 1% to 2% this year. This is of course also good news for the German economy.
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Omar Faruk

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