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magazineChina offers the world a glimmer of hope
A glimmer of hope from the coronavirus pandemic could come from China, which is starting to come out the other side as new cases fall and lockdown restrictions begin to ease.
While the crisis in the country is far from over, Chinese premier Xi Jinping said most of China is now ‘low risk’ as it starts to return to normal.
Chinese officials are now enacting several policy measures to get citizens out spending again and Chen Yulu, a deputy governor at the People’s Bank of China, told a news conference while the economy would contract sharply in the first quarter, he expects a significant improvement in the second quarter.
China’s vast, growing economy makes it one of the biggest global consumers of many goods and commodities.
Investors may be watching China closely to see if it can offer a inspiration for a potential exit strategy from the containment measures launched in the West.
The Shanghai Composite is down only 12% year-to-date compared to a 28% fall in the S&P 500.
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