CHINA EMERGES EVEN STRONGER FROM LOCKDOWN

GOOD MORNING FROM LONDON #191

China’s economy, says the FT, continued its strong recovery from Covid-19 in the First Quarter of 2021. Record annual growth rate as China’s output increased by 18.3% January-March 2021. China is the first major economy to emerge from lockdown — by comparison, the euro-zone is still grappling with rising Covid-19 infections + lockdowns which will drag into a double-dip recession. It will recover but not until 2022. China’s expansion was supported by household consumption as evidenced by retail sales which surged by 34.2% in March. China’s natural habits are shifting from saving to consumption as confidence in the future returns. Are there problems? Of course. Life is never an uninterrupted progression to unqualified achievement. There is a concern about overheating and bubbles in high asset prices but overall China remains on the right path having emerged from Covid-19 with far less damage than the US/UK/Europe. More tomorrow — 18 April 2021 Hastags! #biden #dengxiaoping #jennyclegg #michaelwood #sacu #sunyatsen #twoguncohen #xijinping, #biden #covid #DailyComments #xijinping Visit My Blog https://grahamperryonchina.com/