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China grows 18.3%, the only major economy to grow in 2020

Neill Fronde

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PHOTO: China - the second largest economy, and only major economy to grow last year.

China’s economy set a record for growth in Q1, 2021, marking an 18.3% jump in year-on-year figures, the biggest quarterly growth in almost 30 years. China only started publishing growth statistics in 1992, and this drastic increase is the fastest growth recorded since then.

The figures, however impressive, are mainly due to what is called a “low base effect” where the change from a low starting point translates into big percentage statistics. Because of the devastating economic effects of the Covid-19 pandemic, the Q1 2020 figures were dismal, allowing the big gain over the last year.

Quarter to quarter, the last 3 months saw only a 0.6% growth, but in the last quarter of 2020 China recorded an economic boom of 6.5% according to the Chinese government. Still, the figures are admirable, as China was the only major economy in the world to achieve growth in 2020. Most of the planet struggled to contain global Covid-19 outbreaks, crippling economies across the globe. But China, now the second-largest economy in the world, managed a 2.3% overall expansion. Even Chinese officials called the impressive statistics “better than we had expected.”

China has been growing in terms of imports and exports as well, with exports expanding nearly 31% and imports up 38% by price over last years.

SOURCE: CNN

 

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21 Comments

21 Comments

  1. Avatar

    Slugger

    Friday, April 16, 2021 at 3:16 pm

    Very impressive. Where are all the haters to shout ‘liars’ then? They’ll be along soon.

  2. Avatar

    Charles Wall

    Friday, April 16, 2021 at 3:35 pm

    Ironic, China has destroyed the world economy and caused untold misery. They should be made to pay reparations to every country based on death numbers. They’re vaccine is also faulty, this will lead to further serious health complications in the future for those who have received it, possibly causing more mutations.

  3. Avatar

    Gosport

    Friday, April 16, 2021 at 3:57 pm

    Excellent management of pandemic is the base of economic growth.

  4. Avatar

    Keith

    Friday, April 16, 2021 at 4:45 pm

    Their Covid 19 strategy is working well for them

  5. Avatar

    Dreqo

    Friday, April 16, 2021 at 4:58 pm

    ^Oh look, another Wu Mao.

  6. Avatar

    John_2

    Friday, April 16, 2021 at 5:56 pm

    China has shown the way on how to best manage the virus.
    Must help not allowing money to leave the country in the form of tourist dollars, doesn’t help countries like Thailand though.

  7. Avatar

    Joe

    Friday, April 16, 2021 at 7:14 pm

    Liars

  8. Avatar

    Barry Betts

    Friday, April 16, 2021 at 8:22 pm

    Well that’s telling us all that China can kill millions of people around the world make money out of it so they’ll be able to do it time and time again and get away with it!!!! Congrats to China and sod the rest of the world just shows what kind of country the world is dealing with!!!

  9. Avatar

    Das

    Friday, April 16, 2021 at 8:40 pm

    Anyone praising China either has a very short memory or hasn’t done their research.

  10. Avatar

    Kuhn David

    Friday, April 16, 2021 at 8:53 pm

    China cooked the virus up just like they cooked up the books on their economy. There isn’t much I believe coming out of China

  11. Avatar

    Niko

    Friday, April 16, 2021 at 8:55 pm

    China deChina decisive action at the begging was important because that´s how you manage a epidemic.

    You have 2 options: either

    a-you let the disease spread and allow nature to take its course

    b-if chose to stop it your only chance is to remove the virus of circulation and then set a system to make sure no new cases come from the outside

    The lockdown that china did was serious no exceptions but instead of being a example and a wake up call of the danger, it was dismissed by the “west” as a violation of “human rights”.

    Many voices even celebrated this as an accelerator for “jobs leaving Chy-na!” while sat on their hands watching like this was some kind of movie because they thought this would never touch them, after all they are special unlike “chy-na”

  12. Avatar

    toby andrews

    Friday, April 16, 2021 at 9:00 pm

    These are Chinese figures. Can they be trusted?

  13. Avatar

    Frank

    Friday, April 16, 2021 at 11:00 pm

    John 2, China’s government should know how best to handle the virus since they knew about it months before the rest of the world did.

  14. Avatar

    Dreqo

    Friday, April 16, 2021 at 11:56 pm

    Not one person with a semi-functional brain would believe this propaganda courtesy of their paid puppets @CNN, the OP. Anyone with a somewhat partially functional brain knows that the US mainstream media is entirely opinion, and pure fiction at best. Come on Thaiger, quit with the bait posts, you’re better than that.

    • Thaiger

      Thaiger

      Saturday, April 17, 2021 at 7:25 am

      It was reported in the other main news sources too.

  15. Avatar

    Leo Z

    Saturday, April 17, 2021 at 12:07 am

    First, year-on-year means compared to the 1st quarter 2020, which was ABYSMAL in China. It’s not sequential, i.e. it’s not compared to the 4th quarter 2020.

    Second, even Chinese officials claimed it was better than they expected? THEY come up with the numbers. There’s no independent audit of any numbers in China.

    Third, their GDP growth comes mostly from government infrastructure projects and manufacturing activity, NOT consumption, which does not bode well for the future.

  16. Avatar

    Deathtocpp

    Saturday, April 17, 2021 at 5:06 am

    China can come up with any numbers. Who’s there to audit them?

  17. Avatar

    Barry Betts

    Saturday, April 17, 2021 at 5:50 am

    Well done China!! Same again as what their doing with Hong Kong,China is evil and will always get away with everything unless they get wiped out once and for all!! Atom bomb I say

  18. Avatar

    Amy Sukwan

    Saturday, April 17, 2021 at 8:36 am

    The Chinese seem to have read The Art of War. They knew how to break the ice on lockdowns travel restrictions and human rights crippling nonsense in a way that fomented mass panic. And now they’ve come out ahead. The birth rate dropping in China to the lowest level since 1962 tells me all is not necessarily well. May God help us all.

  19. Avatar

    J West

    Saturday, April 17, 2021 at 9:40 am

    As school children we were given UNICEF boxes to collect pennies for Chinas starving millions. My generation grew up and developed Chinas industrial base by shuttering our own factories. We redirected trillions towards China to shift the horrors of them threatening nuclear war and the invasion of neighbors with a “ million man army”. China now brags of “its” success? Frankly I’m tired of waiting for China to join the family. If it were up to me I’d build another Great Wall, this time by way of a complete embargo, no goods out, no goods in, no travel , no communications. China only seeks to dominate, let them go back to eating bugs in the field. We were wrong to help them.

  20. Avatar

    Steve L.

    Monday, April 19, 2021 at 4:05 am

    China’s approach to managing the virus was effective but not admirable. Basically kidnapping people and locking them up isn’t what I would consider admirable. Taiwan and South Korea, and Thailand, actually had better balanced approaches. Taiwan was helped by their isolation.

    Some countries fell short on their responses but like others will recover quickly. The priority now is vaccinating the populations. In that regard China is lagging behind as their vaccinations aren’t as effective (~50%) as others that have been developed (95-97%). As such, they will need to more closely monitor the population for a prolonged time and their citizens will continue to pose a slightly higher risk to others while traveling.

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Neill is a journalist from the United States with 10 years broadcasting experience and national news and magazine publications. He graduated with a degree in journalism and communications from the University of California and has been living in Thailand since 2014.

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