Calculating the prospects for a vigorous economic recovery entails wrestling with questions of human nature. Its factories roared back to life, and its 1.4 billion people resumed spending, making China a rare engine of growth in the world economy. The United States grew more than 7% compared with the previous quarter and Germany by more than 8%. The world economy will contract by 4.4% this year, the International Monetary Fund forecast in its most recent assessment. Next year, the world economy is expected to grow by 5.2%, according to the IMF, but that would still leave it only 0.6% larger than in 2019.

Source: bd News24 November 28, 2020 02:37 UTC