Current location:travel >>
China's adjustment of COVID
travel8People have gathered around
Introduction(Xinhua) 10:35, February 12, 2023NEW YORK, Feb. 11 (Xinhua) -- China's adjustment of its COVID-19 pa ...
NEW YORK, Feb. 11 (Xinhua) -- China's adjustment of its COVID-19 pandemic response will not only speed up its own economic recovery, but also boost global economic growth, said a report issued by Goldman Sachs Research on Friday.
"Our economists now forecast China's GDP (gross domestic product) to grow by 6.5 percent in 2023 on a Q4/Q4 basis," up from the previous forecast of 5.5 percent made at the end of last November, according to the report.
On top of that, global GDP could be raised by 1 percent by the end of 2023 due to China's adjustment, it said.
"The global growth backdrop has brightened," Goldman economists Joseph Briggs and Devesh Kodnani were quoted as saying by the report. The two economists have viewed "the more rapid pace of China's reopening along with a waning drag from global financial conditions and lower European gas prices" as good news for the world.
China's adjustment will impact global growth through "three direct channels," including increased domestic demand in China, and higher demand for international travel and commodities from China, said the report.
Domestic demand in China in 2023 is likely to increase by up to 5 percent, and the return in goods demand could provide a moderate boost of around 0.4 percent to GDP in most Asia-Pacific economies, it said, adding that a normalization in travel patterns should lead China's travel trade deficit to increase and boost foreign GDP. The report also said China's recovery will likely boost commodities demand and prices.
Briggs and Kodnani "anticipate the broader spillover effects from Chinese growth -- including more favorable global financial conditions and increased trade with other countries -- to be larger," it added.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Global Gatherings news portal”。http://tajikistan.allesfuersjagen.com/html-84f999821.html
Related articles
Zoom in on beautiful Fenghuang Town
travelPhoto taken on Feb. 16, 2021 shows the beautiful view of the Fenghuang Town in Xiangxi Tujia and Mia ...
【travel】
Read moreFull Text of Constitution of Communist Party of China
travelContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【travel】
Read moreXi Congratulates Lula da Silva on Election as Brazilian President
travelContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【travel】
Read more
Popular articles
- Chinese, Kyrgyz Presidents Hold Talks, Elevate Bilateral Relationship
- Xi Jinping Elected General Secretary of CPC Central Committee: Communique
- Xi Sends Congratulatory Letter to 2022 World Internet Conference Wuzhen Summit
- Man Who Respects Culture
- SW China's Yunnan makes great efforts to protect wildlife species
- CPC Leadership Makes Arrangements for Implementing Party Congress Guiding Principles
Latest articles
E China's Jinzhai County promotes industrial integration, agro
Highlights of Xi
Xi Sends Condolences to Indian President, PM over Bridge Collapse
City Helps Women Find Jobs Near Home
Flowers make rural economy blossom
(CPC Congress) CPC Elects New Central Committee, New Central Commission for Discipline Inspection
LINKS
- Renowned musicians Friendship Trio wow audiences in Shanghai
- Ryan Giggs' pregnant girlfriend Zara Charles cuts a casual figure in tight
- Xijin ferry historical and cultural block
- China ready to take 'China
- Bayer Leverkusen's late escapes are keeping Xabi Alonso's team unbeaten this season
- The Piano review: This show's standout performer? A romantic OAP with dementia, writes ROLAND WHITE
- Russia says Moscow terror attack suspects planned to flee to Kiev for reward
- Inside Amy Childs' lavish no
- Woman dies, 2 others hospitalized after mass drug overdose in Australia's Queensland
- Claire Sweeney dazzles in a form