Workers assemble wind turbine hubs at a company in Lianyungang, Jiangsu province, on Aug 15. Manufacturing investment in China may sustain a strong expansion of about 10 percent this year. [GENG YUHE/FOR CHINA DAILY]
Silver lining of China’s recovery and growth offers hope amid dark clouds worldwide
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 said.
The US economy has reported economic contraction on an annualized 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 percent year-on-year in the first half in spite of unexpected shocks from Omicron outbreaks and geopolitical tensions.
In July, the country’s…
