China was the first country to suffer from the coronavirus, but it recovered in time to have its manufacturing capacity up and running as the virus spread across the globe. The demand for personal protective equipment (PPE), computers, and everything else helped power China’s economic recovery in 2020 and position the country to continue its strong growth into 2021. We’ll look at how this happened and what it means for the market.
While the other major economies in the world ended 2020 still grappling with the coronavirus and shuttering segments of the economy to prevent further spread, China’s economy expanded 2.3% in 2020. This comes at a time when the World Bank projects that most economies are destined for years of muted growth following a significant decline in real terms in 2020. Read more…..
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CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Eunice Yoon reports from Beijing on the state of life and commerce in China exactly one year after a Wuhan doctor first raised a flag about Covid-19.