China's Economy Growing While The Rest Of The World Crippled By COVID

China's Economy Booming While Rest of the World Crippled by COVID

 Jay Greenberg 

China is enjoying a booming economy after returning to pre-pandemic levels while countries around the world are crippled due to COVID-19 shutdowns.

The Chinese gross domestic product (GDP) has grown 4.9 percent in the third quarter from last year, while the United States, Canada, UK, Australia, Japan, and much of Europe are down by record levels.

The growth in China proves the Communist country is back to its pre-pandemic trajectory with industrial production and consumer spending going back to normal levels.

The figures are far more favorable than the dire economic data coming out of most Western countries, most of which are still battling with the Chinese Plague.

China has bounced back surprisingly quickly, despite being the first country to suffer the coronavirus outbreak. 

In the first half of 2020, as the virus spread across the globe, China was boosting its economy, growing 6.8 percent in the first quarter of this year, and 3.2 percent in the April-June quarter.

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