The pandemic has inhibited investments and impeded flows of goods and personnel, precipitating the worst recession since the Great Depression in the 1930s.
The world economy will shrink by 4.2 percent this year as the COVID-19 pandemic continues to exert a substantial toll on economies and societies, according to the OECD report.
The contribution of Europe and North America to global growth, the OECD said, will remain smaller than their weight in the world economy. In the United States, the GDP is expected to contract by 3.7 percent this year and the eurozone will witness a 7.5-percent contraction.
Under such circumstances, China s outstanding rebound and sustained momentum for growth have offered the world a silver lining and helped brighten the bleak global economic landscape.
Int l agencies, experts expect China to drive global growth in post-pandemic era-- Beijing Review bjreview.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bjreview.com.cn Daily Mail and Mail on Sunday newspapers.
2020-12-10 09:44 By: Xinhua The Organization for Economic Co-operation and Development (OECD) predicted that China will be the only major economy to record positive performance in 2020 with a 1.8-percent growth. As the global demand has waned amid the pandemic, the steady unleashing of the Chinese market potential will certainly provide the most-desired business possibilities and add stronger impetus to the stable growth of the global economy. In the post-pandemic era, China will continue to be the locomotive of global growth, said Koh King Kee, president of Malaysia s think tank Center for New Inclusive Asia.
BEIJING, Dec. 9 (Xinhua) In its latest Economic Outlook report, the Organization for Economic Co-operation and Development (OECD) predicted that China will be the only major economy to record positive performance in 2020 with a 1.8-percent growth.
Int l agencies, experts expect China to drive global growth in post-pandemic era - Buz & Tech News sina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sina.com Daily Mail and Mail on Sunday newspapers.