Economics: China - Back To Normal

(Drivebycuriosity) - It looks like that China`s economy is back to normal. This night we learned that China´s exports climbed 9.9% YoY and imports jumped 13.2%. Exports and imports both reached new all-time highs (china/calendar ) .

 

 

 

 

 (source)

The record numbers show that China not only recovered from the Covid-19 crisis, the country also overcame the trade war with the US. China´s fast recovery from the corona crisis is no surprise. Beijing responded early, fast and consequently to the pandemic. Apparently the population has enough discipline for hand washing, mask-wearing & social distancing. As a result China´s numbers of new infections, active cases and deaths fell to almost zero (worldometers ).

The success allows the reopening of China`s economy and the return to normality. China`s economy might even get stronger when the corona crisis has past. History shows that consumer and businesses are more willing to change behavior during setbacks (twitter). Innovations typically gain traction during tumultuous times: they get cheaper, faster, more convenient, more productive, more creative.  Companies are streamlining operations and are getting more efficient & productive as they always do when they are challenged. China will overtake America sooner than many think!