When the whole world is facing an economic crisis due to the WuhanVirus China is the only country whose economy is boosted up in post-WuhanVirus. After 1992 China started keeping records on a quarterly basis and the highest jump is recorded this year in the gross domestic product (GDP). In the beginning quarter of 2021, China’s record economy rises around 18.3% which is a similar quarter in the last year. A Reuters poll of economists assumption a growth of 19% but Friday’s figures are underneath. Though their GDP increased they are also heavily aslant and less imperative of strong growth in contrast of the last year.
For the baseline, the 2020 first quarter is used, the economy of china was on its downfall 6.8% at the time of the lockdowns when the Wuhan Virus is on its peak. In China’s statistics department, further key figures are also released in which the point continuously looking for the rebound but of course, it’s not going to be that much strong as compared to the last year. The Wuhan Virus was also badly infected in its country where it was formed and decreased the economic growth of China as well but now China starts recovering in its economic growth.
The growth is slow as compared to the last year but much better than the other countries’ economic growth. In the last year March, the Industrial output was raised by 14.1% and the retails sales raised by 34.2%. It has been stated by Louis Kuijs who is working in Oxford economics as head of Asia economics at research and consultancy firm”In the month of March there is a raise is registered in the consumption, investment and industrial production which was missing at the beginning of the two months. March month is registered as the gained growth in GDP.”
