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Bright spot in global economic landscape

Mount Equity Group Tokyo Japan > News > Markets > Bright spot in global economic landscape

BEIJING: A confluence of high inflation, low growth and rising financial fragility may be painting a gloomy picture of the world, but the steady recovery of China’s economy is proving to be a silver lining, experts say.

The US economy has reported economic contraction on an annualised basis for two consecutive quarters this year. This, they noted, rendered the world’s largest economy into a so-called technical recession.

In contrast, the Chinese economy grew 2.5% year-on-year (y-o-y) in the first half in spite of unexpected shocks from Omicron outbreaks and geopolitical tensions.

In July, the country’s industrial output expanded by 3.8% y-o-y, generally stable compared with 3.9% in June, pointing to a continuous momentum in economic recovery, according to the National Bureau of Statistics.

What is even more encouraging is that China’s…

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