Indeed, the global economy’s other main engines are far from firing on all cylinders. The U.S. economy, despite a strong end to 2022, will struggle this year as higher interest rates bite, according to the World Bank’s latest forecast. Europe is in recession, and Japan is projected to eke out just a 1 percent growth rate., the World Bank forecasts growth of 4.4 percent this year, and some private estimates are even higher. Goldman predicts a 5.2 percent gain.
Nearby destinations such as Thailand and Hong Kong are the immediate beneficiaries. But American tourist attractions also are anticipating the return of the Chinese. That’s an impressive increase. But the total is still just a fraction of the more than 3 million who arrived annually in the pre-pandemic years. And the industry does not expect a recovery to that level until 2026, according to Geoff Freeman, USTA’s president. Visa approvals and required coronavirus testing also will keep international travel from rebounding as quickly as domestic journeys.
Some analysts worry that a resurgent China will consume more oil, driving up global prices, making inflation worse, and forcing the Federal Reserve and other central banks to keep raising interest rates.Bank of America expects a barrel of Brent crude, the global benchmark, to reach $110 in the third quarter this year, up from around $80 today.
Luxury retailers also expect to benefit from higher Chinese sales, within China and elsewhere. The stock of Louis Vuitton’s owner, LVMH Moet Hennessy Louis Vuitton, has gained almost 13 percent since Beijing scrapped its covid restrictions Dec. 7.Still, China is emerging from a period of troubling weakness. Last year’s 3.2 percent annual growth rate was the lowest in decades, excluding the pandemic year of 2020.
《这不过是灾难的起头----神为什么降下瘟疫》
Buy, don't die!
Is this for real? People are dying by the thousands, and all the WP can write about is 'China powering through...' and 'setting the stage for a rebound in consumer and business activity'. People are dying. Show some compassion Washington Post. covidchina
Maybe it’s the perfect time not to be investing in China let the communist party fail . Maybe it’s a good time for US government to stop trying to sell China US oil maybe would be a good time to stop walking away from all the natural resources that China is gobbling up.
They created and intentionally spread it to the rest of the world.
No, they aren’t. It’s clear they are trying to wreck the global economy with useless lockdowns. Now, you be good little socialists and runout and get 15 vacc boosters. Keep gettin the jab.
This isn't going to end like you think it will. Just going to make things worse, lol.
When you can afford to lose a few million citizens for the sake of the economy.
Two years, they claimed the US uses Covid to get rid of the elderly to save money on medicaid and social security benefits. Now they are doing the exact same thing they tried to pin on others.
Si los chinos no trabajan el mundo se va al carajo? están todos enfermos y el mundo sigue girando
I have said before that it's in our own best interest to help vaccinate the Chinese and other nations around the world due to the impact on the global economy and human health. If they would quietly accept such a gesture, perhaps a peaceful pursuit of common interest may return.
Can't believe the almost complete disregard for the lives infected & lost! Geesh. Global economy & tourism take precedent. Such a callously written article.
humm... Does this news have anything to do with the reopening of China? Well, seems true 🤡
Powering through = letting a lot of people die
Your Biden’s putting American in a recession 😇
DougJBalloon have fun with this.
Excellent, I'm so glad that the sacrifice of now over 60,000 lives is going faster than anticipated so you guys can make sure the global economy is right back on track. Jesus Christ, think for just a second about what you just wrote.
Wow. How much more pale could the intellect fall. You don't build economies on dead and disabled people. Dead people neither produce not consume goods. Disabled people produce and consume less than ableds. This piece is entirely blank, with all of the substance of cream.
We don't want any
Yay more dependence on cheap shit from China
China Joe & Ratboy
With approx. 00005 of the population, this is not drama,