While most industrialized nations are still grappling with the fiscal effects of COVID’s business-and-employment-crushing lockdowns, China’s economy is apparently doing just fine. Beating expectations, China’s economy reportedly grew 2.3 percent in the year 2020, the only major economy that supposedly expanded rather than contracted during the global pandemic and looks to continue to surge.
In the fourth quarter of 2020 alone, gross domestic product in China remarkably rose 6.5 percent year over year (i.e., as compared to pre-COVID), and a significant improvement over 3Q’s 4.9 percent. China’s economy contracted by 6.8 percent in 1Q 2020 when the coronavirus began sweeping the world, and the ruling Chinese Communist Party temporarily shut down the economy of the vast country, with the rest of the world following suit.
“The following quarter, China became the first major country to grow again with a 3.2% expansion after the party declared victory over the virus in March and allowed factories, shops, and offices to reopen,” Fox Business reported.
Some corporate media outlets, several of which have been compromised by CCP influence if not propaganda, generally claim that Chinas took various preemptive steps to contain the virus, which allegedly broke out in the central China city of Wuhan, and allowed it to” declare victory,” as alluded to above.
No one really knows what’s going in inside the authoritarian country, however, where state-controlled censorship is the norm.
According to Reuters, “Beijing’s strict virus curbs enabled it to largely contain the COVID-19 outbreak much quicker than most countries, while government-led policy stimulus and local manufacturers stepping up production to supply goods to many countries crippled by the pandemic have also helped fire up momentum.”
More of the same from the Washington Post: “With the virus essentially contained by late spring 2020 — and only re-emerging on a small scale in recent weeks — Chinese sectors such as construction, heavy industry and export manufacturing were jump-starting last year just as other countries plunged into crisis.”
For many years, American corporations enabled China to ascend to superpower status by outsourcing jobs and manufacturing facilities there, making the U.S. highly dependent on imported goods This wealth, in turn, has allowed the CCP to expand its political, economic, and military tentacles all over the world.
Human rights organizations have also called into question the working conditions for those laboring in China’s factories.
President Trump has repeatedly called for China to be held responsible for what he described as the China virus.
The Trump administration has also done a stellar job of leveling the playing field with China on trade, including encouraging manufacturers to come home. Unfortunately, Joe Biden and his globalist, America-last handlers are likely to reverse that progress.
On a more optimistic note for the domestic economy, President Trump rang in the new year by asserting, among other things, that “Our economy is growing at the most rapid rate ever recorded — 33.4% last quarter — and faster than the nations of Europe.”
— Conservative News (@BIZPACReview) January 1, 2021
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