China’s economy grew by double digits in the latest quarter, but an explosive rebound from the COVID-19 pandemic is slowing abruptly as manufacturing and consumer spending return to normal. Growth compared with 2020’s final quarter, when a recovery was under way, slowed to 0.6%, among the weakest of the past decade. AdvertisementThis year, the International Monetary Fund and private sector forecasters expect Chinese growth to rise to above 8%. Quarterly growth compared with the previous quarter should stabilize at 1% to 2%, according to Iris Pang of ING. “China-U.S. relations with be critical for China’s economic growth, mostly in technology development,” said Pang in a report.

Source: Los Angeles Times April 16, 2021 09:02 UTC