Both the United States and China are seeing a rapid rebound from the economic damage brought on by the COVID-19 pandemic. The World Bank’s recent report forecasts GDP growth of 8.5 percent in 2021 for China, leading the world’s economic recovery. Does this bullish outlook accurately reflect the reality of China’s economic development in the second half of 2021 and beyond? What are potential obstacles Beijing could face from challenging issues such as weak domestic consumption, trade imbalances, and income inequality?
On July 15, 2021, the National Committee, in partnership with Peking University’s National School of Development (NSD), held a virtual program with Dr. Liang Hong and Dr. Xu Gao to forecast China’s economy for the second half of 2021 and beyond.