Wednesday, January 27, 2021

China economic recovery ‘will lift surrounding economies’

Compared to Europe and US, the worst part of the pandemic in China seems to be over.

Other News

Two-thirds of world see ‘climate emergency’, UN survey shows

The large majority of those who do recognise a climate emergency want urgent and comprehensive action, says Oxford sociologist.

Homemade and fabric masks no longer good enough in Europe

European countries to require medical-grade masks or respirators in public but other healthcare bodies disagree.

Germany to send warship to Indo-Pacific with eye on China

Germany says the mission is 'not aimed at anyone' but Berlin seems to have Chinese expansionism in mind.

Masa depan e-dagang kekal berdaya saing walaupun diragui taikun peruncitan

Platform e-dagang didakwa tidak memberi sebarang faedah kepada keseluruhan rantaian bekalan, tidak seperti seseorang itu bebelanja di kedai fizikal.

Big future for e-commerce despite retail tycoon’s doubts

Malaysia's e-commerce sector, established long before the pandemic hit, looks set to continue growing in the years to come despite recent dismissals of the future of online shopping.

Fast and effective containment of the Covid-19 outbreak is giving Asian countries an advantage over other economies, paving the way for a faster recovery, analysts at Goldman Sachs believe.

“We think Asia’s really the best positioned of the major regions right now, given the good control of the virus in most of the region outside of India and some parts of Southeast Asia,” Andrew Tilton, chief Asia economist at the investment bank, said as reported by CNBC on Monday.

Europe is currently facing a new wave of coronavirus infections, with more and more cities enforcing tougher restrictions, which may hamper their recovery from previous lockdowns.

The US is also seeing an increase in average daily cases and continuing confusion over how best to deal with the pandemic.

Meanwhile official data from China, one of the main economic drivers of the Asia region, shows the worst impact of coronavirus appears to be over. The country has been reporting only around 20 new cases per day for the past few weeks, compared to the thousands of daily infections still being reported in the US.

“I think, given the good control of domestic transmission of the virus in China, we are going to be seeing services activity come back there as well,” said Tilton.

According to global market strategist for Asia Pacific at Invesco David Chao, China has shown a continuing rebound from the pandemic, and this will give a boost to its neighbours. “China’s recovery will lift the surrounding Asian economies,” he told CNBC earlier this week.

Follow us on Telegram for the latest updates:

Subscribe to our newsletter

To be updated with all the latest news and analyses.

Related Articles

How Shanghai saved thousands of Jews from the Holocaust

Six million Jews perished during the worst genocide in human history but some were able to escape Europe for Shanghai because it was one of the very few destinations that did not require an entry visa.

India permanently banning 59 Chinese apps as new border skirmishes erupt

The original bans followed a skirmish with Chinese troops at a disputed Himalayan border site which resulted in the deaths of 20 Indian soldiers.

US Navy in South China Sea not good for peace, says Beijing as aircraft carrier group sails in

The US carrier group was demonstrating 'freedom of the seas', the US military said, just days after Joe Biden became US president.

9 trapped Chinese miners confirmed dead, one still missing

Rescue teams will not stop searching until the last miner is found although high underground water levels in a section of the mine have complicated rescue operations.

China tests Biden’s resolve in the skies over Taiwan

Increased numbers of Chinese warplanes entered Taiwan airspace over the weekend, prompting warnings from Washington.