To most people paying attention to what’s going on lately, the answer is pretty obvious. However, if you’re not in-tune with the “blogosphere”, here it comes: according to a recent article from Reuters, China’s economy next year will grow with 10 percent, give or take (compared to 2019 figures), while the economy of every other country in the world, the US included, will shrink.
This “shocking” information is proof that it’s not such a great idea to transfer the wealth from the middle class into the hands of big corporations (aka the ruling elite), as in such approach is very bad for the economy. And if you’re wondering what am I talking about, check out this article from Forbes :How To Prepare For The Greatest Wealth Transfer In History.
The Reuters article I mentioned in the preamble explains this concept as it follows: after the “Chinese virus” was first discovered in Wuhan, and then started spreading across the world leading to a so-called “pandemic”, China and the rest of the world (except from Sweden) took very different approaches to mitigate the “disaster”. Almost a year into the “outbreak”, China’s economy is doing just fine, thank you very much, the number of deaths/infections/what have you is not an issue in the press anymore and people are going along about their lives and businesses.
No lock-downs, no restrictions, and by the way, China never had a country-wide lock-down like Europe or the US. Hence, eleven months in the so-called outbreak, China’s GDP figures show that the economy is growing 4.9 percent for the 3rd quarter of 2020, and the Chinese people are confident and optimistic about the future.
“China’s success in containing the virus has allowed its economy to rebound more quickly, and with relatively less policy support, as compared with other large economies,” said former senior U.S. Treasury official Stephanie Segal, a senior fellow at the U.S.-based Center for Strategic and International Studies.
Meanwhile, the US and EU economies are crumbling, politicians and the medical establishment are continuously talking about a “second wave”, more lock-downs, more restrictions and so on and so forth.
China stopped doing tests, and magically, there was no more virus.
But we have to do all of these tests and destroy our economy and take everyone’s freedoms from them, because those are our values.
Chinese officials said Monday that gross domestic product expanded by 4.9% in the third quarter from a year earlier, putting China’s economy back toward its pre-coronavirus trajectory half a year after the pandemic gutted its economy.
The 4.9% growth figure for the third quarter fell short of expectations but brings China’s trajectory closer in line with forecasts made at the beginning of the year for 2020 growth of between 5.5% and 6%—forecasts made before the pandemic swept across the globe, killing more than a million people and crushing the global economy.
The third-quarter expansion builds on the second quarter’s 3.2% growth, which follows a historic contraction of 6.8% in the first three months of the year, when authorities locked down the central Chinese city of Wuhan in a bid to curb the fast-spreading virus.
The International Monetary Fund is projecting China’s economy to expand by 1.9% in 2020, putting it on track to be the only major world economy to grow this pandemic-hit year.
By contrast, the American economy is expected to shrink by 4.3%, while the eurozone is forecast to contract by 8.3%, the IMF said in its latest update this month.