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On May 11, the United Nations announced the mid-2021 report on the World Economic Situation and Outlook in 2021. The report said that due to the development of major economies such as China and the United States, global economic growth is slowly recovering.(The figure below is the statistics of China's import and export value in 2020 from U.S. customs statistics)
The report stated that the global economy is expected to grow by 5.4% in 2021, which is an increase from the 4.7% predicted by the United Nations report at the beginning of 2021. Among them, the report raised its forecast for China's economic growth from 7.2% at the beginning of 2021 to 8.2%, and raised its forecast for US economic growth to 6.2%. The two major economies of China and the United States recovered quickly, but the economic situation in the rest of the region remains severe. China is still one of the driving forces for the recovery of global economic growth.
The main author of the UN Department of Economic and Social Affairs report, Rashid, said that China’s economic growth will be driven by industrial products, exports, production and infrastructure, and consumer spending will also improve.
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