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China Economy Recovered? What Media’s Write About?

China Economy Recovered? What Media's Write About?

China’s third-quarter economic data has recently been released intensively, and the interpretation of the data by major Western media is overwhelmingly positive: CNN’s headline is “China’s Economic Recovery Gains Greater Momentum”; Bloomberg described that China’s economy is “The world’s only major economic engine, and continue to ride the wind and waves”; “The Economist” stated that “the whole world is in the quagmire of recession, but China has emerged from a V-shaped rebound.”

△ CNN report screenshot: “China’s economic rebound momentum is stronger”

△Screenshot of Bloomberg report: “China is the only major engine in the world to continue to ride the wind and waves”

△ “The Economist” reported a screenshot of China’s V-shaped rebound-“V symbolizes victory”

Some Western media used to look at China with microscopes and haha ​​mirrors, but this time they praised China’s economy in unison, which can send at least three signals.

The first is that China’s economy performed sufficiently “hard core” from July to September. The troika of investment, consumption, import and export has all turned positive, and major economic indicators have continued to improve, especially the total retail sales of consumer goods, which has attracted much attention. 0.9% is the first positive growth this year. Looking at the market performance during the National Day and Mid-Autumn Golden Week in early October, the recovery of social consumption will be further accelerated. From a long-term perspective, consumption is the main engine to promote the high-quality and sustainable development of the Chinese economy. The role will become more and more obvious. CNN and the British Broadcasting Corporation (BBC) have come to the same conclusion: China’s recovery has become a reality, “the scope of the recovery continues to expand, and the foundation of the recovery is further consolidated”, and will “further speed up.” The German “Business Daily” believes that there is no need to doubt the credibility of China’s economic data. Because the micro data of German companies “can fully confirm China’s economic performance.”

△BBC Interpretation of China’s third quarter economic data report screenshot

Second, China’s approach to coordinate epidemic prevention and economic development is being widely recognized. A German TV station reported that, “Although there are still people who have difficulty understanding China’s epidemic prevention and control measures, unlike many European countries that are facing the second wave of epidemics, Chinese people no longer have to worry about the inconvenience caused by large-scale lockdowns. Worried about the stock market plummeting.” The Süddeutsche Zeitung also published similar comments, and the article pointed out that “fighting the virus is fighting the recession”. The author further explained, “If you want people to go shopping, go to bars, or travel, you must first stop them from worrying about being infected by the virus.” China’s experience shows that “decisive measures are much stronger than half-heartedness.”

German TV report: “China has returned to its pre-epidemic level”

More importantly, economic globalization is an objective reality and historical trend, and the important enlightenment that the epidemic has brought to people is becoming more and more popular. Reuters wrote in a review: “The decision makers all over the world put their hopes on China. They hope that China can lead the world economy to a strong recovery and create huge demand.” The German “Business Daily” for example, China has always been an important market for German car companies. Under the shadow of the epidemic, “China has become a’life-saving straw’ for German car companies.” Data from the Federal Statistical Office of Germany explains this statement: German exports to China in August fell slightly by 1.1% year-on-year, and due to the deteriorating new crown epidemic in the United States, German exports to the United States fell 21.1% year-on-year that month. Deutsche News Agency quoted statistics from the German Chamber of Commerce and Industry to provide evidence that the world economy will not decouple due to human factors: “As much as 90% of the products produced by German companies flow directly or indirectly to the Chinese market. At present, 800,000 German jobs are related to China. Demand is closely related.” (Hot Observation Commentator)

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