worldUpdated: Oct 19, 2020, 11:04 ISTChina’s shaky economic recovery from the coronavirus pandemic is gaining strength as consumers return to shopping malls and auto dealerships while the United States and Europe endure painful contractions. The recovery is broadening out and becoming less reliant on government stimulus, Julian Evans-Pritchard of Capital Economics said in a report. It is the only major economy that is expected to grow this year while activity in the United States, Europe and Japan shrinks. The International Monetary Fund is forecasting China’s economic growth at 1.8% this year while the U.S. economy is expected to shrink by 4.3%. But it has avoided joining the United States and Japan in rolling out stimulus packages of $1 trillion or more due to concern about adding to already high Chinese debt.

Source: Hindustan Times October 19, 2020 05:34 UTC