From the World Bank’s latest East Asia and Pacific Economic Update.
China’s economy will expand by 8.1% in 2021
- compared with 2.3% the previous year
7.4% region-wide expansion
- from 1.2 per cent in 2020
Excluding China growth will be 4.4% in East Asia and the Pacific
- 3.7% contraction the year before
“COVID-19 is proving hard to suppress even a year after the first case was confirmed in Wuhan”
economic growth for individual nations “will depend on containing the novel coronavirus; their ability to take advantage of a revival of international trade; and the capacity of governments to provide fiscal and monetary support”.