If the world avoids a recession, it’ll have India and China to thank
Global growth will slow further in the coming year but the world will likely avoid a recession thanks to Asia’s biggest economies.
Global GDP is projected to grow by 3.1% this year, and by just 2.2% in 2023, according to the latest forecast from the Organization for Economic Cooperation and Development (OECD).
Although the OECD is not predicting a recession, its forecast is more pessimistic than that of the International Monetary Fund (IMF), which said last month that it expects the world economy to grow by 3.2% this year and 2.7% next year.
The “fragile prospects” for the global economy are a direct result of Russia’s war against Ukraine, which has sparked an energy crisis that has spurred inflation worldwide, the OECD said in a statement on Tuesday.
I have been in China since 2019
China made the mistake of giving investors the time to look somewhere else. Considering how it reacted who would want to go through that again? Just like investors are losing money so are the customers of those investors also looking somewhere else
The world should pivot away from china and concentrate on strengthening local agriculture, industry and manufacturing.
China isn’t a “developed” country though it’s not a basket case develo country.
It’s actually because the world economy slows down, so as main producer for the world being impacted.
Current downturn in China is just an economic cycle. Sure it will pass. Heard of so many so called experts on China's economic in last 3 decades. Most about China's growth is not real, can't sustain, will Brust
Have you ever been to China, it's a strange place the big cities and surrounding towns are very modern.
China companies just spent 100 millions usd advertisement dollars in FiFA, means the China market still pretty optimistic.
I live in China. Testing every 48 hours but despite that it's all good. Maybe find an expert who is actually on the ground here.
The Chinese are also having a lot of difficulty with the youth and them working. Their birth rate is falling drastically and too many men, not enough women to marry, have children. GDP is super bad currently and young people don't seem interested in manufacturing.
Betting on China is a bad bet anyhow.
Basically, Chinese economy is very sick. There's no cure.
India is falling against dollar is because of the increasing interest rates in US banks and world bank. If India increases the interest rate dollar will come to the normal price against rupee.
If you had predicted China’s rapid growth 30 years ago, then I have good reason to believe your current prediction about China’s future.
China in the 1970s: our residents are really poor living about less than $1.50 a day
China in 2022: our residents now are getting richer every year and we are very strict with COVID rules (buff doge)
China is trying hard to micro-manage inflation, but that strategy will only postpone hyper inflation for so lone.
Just wish India could do this
I don't know if china can achieve 6% because imf say 4,8%
China gdp this year will excede 20 trillion usd, gdp percapita will belong to high income countries , next year China gdp will surpase US gdp , the US politicians in anxety now
Anil Sg Khare
I am indian and i have come to admire the Chinese. It is extraordinary what they have accomplished.