Current location:travel >>
China's adjustment of COVID
travel5People 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.“Stellar Stream news portal”。http://burkinafaso.afischerphasedrives.com/article-73a299843.html
Related articles
7 Minnesotans accused in massive scheme to defraud pandemic food program to stand trial
travelMINNEAPOLIS (AP) — Opening statements are expected Monday in the fraud trial of seven people charged ...
【travel】
Read moreMinistry of Education explains why it has hired so many new staff
travelPhoto: RNZ/ Nick Monro ...
【travel】
Read moreTrapped Chinese miners request pork sausages
travelYour web browser is no longer supported. To improve your experience update it here ...
【travel】
Read more
Popular articles
- Chinese foreign ministry official on US Secretary of State Blinken's visit to China
- Now THAT'S a holiday photo album: Couple who sold everything they own to travel share 15 jaw
- One dead after Okaramio crash
- Scott Morrison and Joe Biden to join summit with key Asia
- United Methodists prepare for votes on lifting LGBTQ bans and other issues at General Conference
- King Charles leaves hospital as Kate recovers at home
Latest articles
The North London neighbourhood plagued by anti
Efeso Collins' funeral to be held in Auckland on Thursday
The $1m PR and lobbying campaign to overturn livestock export ban
Unclear whether there's funding to continue extra hospital security guards
Iconic former Uruguayan President Jose Mujica says he has esophageal cancer
Government unveils plan to fast
LINKS
- Palestinian American poet Fady Joudah receives $100,000 prize
- Alabama court authorizes executing a man convicted of killing a delivery driver
- US deports about 50 Haitians to nation hit with gang violence, ending monthslong pause in flights
- Vikings have the 11th and 23rd picks in the NFL draft and a need for a QB. Can they get their guy?
- Alleged homicide suspect fatally shot by police in San Francisco Bay Area
- Buccaneers eager to use the NFL draft to narrow the gap between themselves and other top teams
- Missouri lawmakers expand private school scholarships backed by tax credits
- Gordon Ramsay is slated for tiny portion of duck on £260
- California governor pledges state oversight for cities, counties lagging on solving homelessness
- John Adams' Nativity oratorio 'El Nino' gets colorful staging at the Met