Chinese Manufacturing Boosts World Economy
he novel coronavirus disease (COVID-19) pandemic has lowered the world’s expectations for the global economy in 2020. Standard & Poor’s, the financial ratings agency, predicts that China’s economic growth will slip to 2.9 percent this year. The China International Capital Corporation Limited, China’s leading investment bank, places it at 2.6 percent. The World Bank has offered a more pessimistic forecast—2.3 percent—and in the worst case scenario caused by the
