BUSINESS / Economy

First into the virus slump, China is proving the fastest out

Chinese police walk by a U.S. Embassy car outside a hotel in Shanghai where officials from both sides were negotiating to end a tariff war on July 30, 2019. | AP

Bloomberg

Aug 16, 2020

China’s economy, the first to succumb to the coronavirus, is proving to be the fastest to recover.

An industry-powered rebound is pushing the Asian nation out of the historic first-quarter slump and toward the prospect of being the only major economy to expand this year. Economists surveyed by Bloomberg forecast growth of 2.0 percent.

To get there, it has squashed a number of smaller virus outbreaks, weathered the collapse in global demand, and kept markets buoyant despite persistent fears of a broad technology Cold War with the U.S.

First into the virus slump, China is proving the fastest out

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