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Tuesday, February 18, 2020

It is naive to expect Chinese economy to collapse

Source:Global Times Published: 2020/2/18 12:13:40

A worker disinfects the factory of Chang'an Automobile in Dingzhou, north China's Hebei Province, Feb. 16, 2020. Companies in Dingzhou resumed production with epidemic prevention measures during the outbreak of the novel coronavirus. (Xinhua/Zhu Xudong)
It is clear that the novel coronavirus pneumonia will have a major impact on China's economic activity, which will translate into immediate pain for some companies and even disaster for those with weak resilience. But the outbreak will be short-lived, and it will not affect China's competitiveness or disrupt the country's overall development trend, which is probably the consensus of most economists around the world.

Western public opinion has more recently assessed the impact of the public health emergency on the Chinese economy, and many of them have intentionally or unintentionally confused the short-term disaster caused by the outbreak with the long-term impact on the Chinese economy. These comments may have been mixed in with some people's hopes that China's future really will be like this. They can't help but magnify the significance of short-term events. Some of them could not help believing their own paradoxical logic.
 
 
Source:  Global Times  http://www.globaltimes.cn.  Government controlled publication.

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