The International Monetary Fund (IMF) on Tuesday projected that the global economy will grow by 5.5 percent this year, a small but significant increase from its last report forecast in October.
China’s economy is predicted to grow by more than 8% in 2021, and the IMF has bumped up its forecast for the U.S. economy to 5.1% growth.
Gita Gopinath, Chief Economist at the International Monetary Fund about global economic outlook and what China’s positive GDP growth means for the global economy.
“China has done extremely well with very quickly containing the pandemic and whenever it research being able to do that very quickly. China also has seen a big surge in its exports with growing demand for a lot of manufactured goods around the world,” Gita said.
She also added, “China is a major economy in the world and being an important part of the multilateral system and working towards improving it.”