Global Economic And Trade News Of Note
- The Chinese government announced last week that the nation’s economy grew by 2.3 percent in 2020, potentially making it the only major economy to have expanded despite widespread business shutdowns due to the coronavirus pandemic. According to The Associated Press, China’s growth reached 6.5 percent in the last three months of the year, compared to the same period in 2019. Third-quarter growth was 4.9 percent. The world’s second largest economy contracted by 6.8 percent in the first three months of 2020, but China bounced back to growth in the second quarter after the government allowed most factories and other businesses reopen.