Many countries are optimistic about China's economic growth: providing an important impetus for the recovery of the world economy

"China's optimization of epidemic prevention and control measures will not only promote China's economic recovery, but also promote global economic growth." Goldman Sachs said in an article published on its official website recently.

Kristalina Georgieva, managing director of the International Monetary Fund, also spoke positively of the optimization of China's anti-epidemic policies, saying that this "may be the most important factor affecting global growth in 2023."

Boosting exports of goods from various countries

"The Economist" called China's optimization of epidemic prevention and control measures "the biggest economic event in 2023." Exporters around the world stand to benefit as China's demand for goods recovers, the magazine said.

Take the oil market as an example. According to estimates by commodity strategists at Goldman Sachs Group, China's oil demand may recover by at least 1 million barrels per day, pushing up Brent crude oil prices by about $15 per barrel. Rising oil prices and increased oil demand will benefit net oil exporters such as Kanada and some Latin American economies.

The optimization of China's epidemic policy has also brought hope to the mining industry in some countries. Copper prices, seen as a "barometer of China's economy," climbed above $9,000 a tonne for the first time since June 2022 as domestic construction projects ramped up, Bloomberg reported, a change that boosted Chili's currency, the peso.

"Vietnam Express" pointed out on the 12th that the optimization of China's epidemic prevention policy has greatly boosted Vietnam's fruit export industry. Due to the surge in demand in the Chinese market, the price of Vietnamese fruits has risen due to the impact of supply relations. The wholesale price of durian has soared to 190,000 VND (about 57 yuan) per kilogram, setting a record high price. tripled the previous year.

According to Deng Fuyuan, secretary-general of the Vietnam Fruit and Vegetable Association, 19.2% of Vietnam's agricultural, forestry and aquatic products will be exported to China. He said that since China adjusted its epidemic policy, the Chinese market will become Vietnam's most potential export market in 2023.

The person in charge of a Vietnamese fruit import and export company said that the company's agricultural products exported to China in 2022 will increase by 60% compared with 2021. She predicts that in 2023 this figure will surpass that of 2022.

Help the world economy develop

"The outlook for global economic growth is bright." Briggs and Kodnani, researchers at the international investment bank Goldman Sachs, said, "Although we have predicted that China's economy will rebound after the adjustment of the epidemic prevention policy, China's The pace of economic growth after optimizing the epidemic policy is faster (than we expected).”

Korean media quoted the "Analysis Report on the Impact of China's Economic Restart on South Korea's Economy" issued by the Korea International Trade Association (KITA) on the 12th, pointing out that if China's economy rebounds in an all-round way from the second quarter of 2023, it will be highly dependent on China. South Korea's economic and export situation is expected to improve.

Singapura's Ministry of Trade and Industry issued a statement on the 13th that it expects Singapore's GDP to grow by 0.5% to 2.5% in 2023, in line with Singapore Prime Minister Lee Hsien Loong's forecast by the end of 2022. According to Yahoo News, Singapore's economic performance in 2022 was lower than expected, but affected by optimism brought about by China's optimization of epidemic measures, Singapore reiterated its economic growth forecast for 2023.

Natixis SA estimates that China's GDP growth in 2023 may account for half of global GDP growth due to the adjustment of epidemic prevention policies. For countries outside of Asia, China's return will increase trade with countries around the world and create more favorable financial conditions globally.

As The Economist puts it: “Such a sharp rebound in an economy as large as [China] means that this one country alone could provide most of the momentum for global growth over this period.”