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PIIE think tank: China goes from strength to strength in world trade

CHINA's economy has bounced back since the second quarter of 2020, while the rest of the world is still deep in the Great Lockdown Recession, according to researchers the Peterson Institute for International Economics (PIIE), a Washington-based think tank

30 November 2020 - 19:00

CHINA's economy has bounced back since the second quarter of 2020, while the rest of the world is still deep in the Great Lockdown Recession, according to researchers the Peterson Institute for International Economics (PIIE), a Washington-based think tank.

China's economic output grew 0.7 per cent in real terms January through September 2020, and it is projected to be the only major economy that will expand in 2020, said PIIE researchers Tianlei Huang and Nicholas Lardy.



Despite weak growth in the rest of the world, China's net exports still grew, contributing 15 per cent of its growth in the first three quarters. Because global trade volume is forecast to fall 10 per cent in 2020, China's share in global trade will is expected to rise substantially, the pair said in a research paper, reported Caixin, the Beijing-based financial portal.



China's exports are surging despite disruptions. Merchandise exports, after declining in the first quarter, have rebounded since then. As the first chart shows, China's exports in October rose 11.4 per cent from a year earlier, higher than 9.9 per cent in September and 9.5 per cent in August. Cumulative year-to-date exports through October expanded 0.5 per cent,' said the report.


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