China’s Reopening Poised To Boost Global Economic Growth
China’s reopening from Covid-19 restrictions will not only accelerate the country’s economic recovery, but it will also boost global economic growth, according to Goldman Sachs Research. Due to the faster-than-expected rate of reopening, our economists now forecast China’s GDP to grow by 6.5% in 2023 on a Q4/Q4 basis. On top of that, the reopening—and the recovery of Chinese domestic demand—could raise global GDP by 1% by the end of 2023, GS Research’s Joseph Briggs and Deves