China calls for ‘arduous efforts’ to revive economy
Al JazeeraAPR 2 2023
While the world is counting on China to promote economic growth and avoid recession, repeating its role after the 2008 financial crisis, the nature of this rebound cycle is different from past expansions as it will be driven by consumers this time around. The biggest effects of its reopening are to be felt at home in service industries rather than spilling over to the rest of the world.
China's newly adopted measures to prevent and control the pandemic will not only stimulate the Chinese economy at home but also help fuel global economic recovery by expanding market demand. While economic challenges still remain that may threaten global growth, China will proactively seek to stabilize industrial capacity and supply chains while upholding multilateralism.