As the pandemic reigns on, we are starting to see the world around us tank in terms of economy. There’s no getting around the horrible news that our economy is not how it used to be just 9 months ago. And with our economy struggling, as well as our numbers in cases of COVID-19, it’s hard to see a light at the end of this never-ending tunnel. However, China might have just reached their light.
It is reported that China has seen tons of growth in their economy, a 4.9% growth in comparison to last year which is extremely impressive given the pandemic that stands in their way. After their tragic economic hit in May, reported a 6.8% decrease – the worst it’s been for them in decades – it was nearly impossible to see them reach the heights they have reached today. But they have and we can’t be more amazed.
Their strategy was great from the start. They initiated mandatory testing and quarantine policies as they began opening back up again after they got through the worst of the pandemic. Once a case arose, they made sure to lock it down and get it under control, even if that meant temporarily closing or sealing off certain areas.
Once they started really taking control over their situations with the coronavirus, factories and plants were able to open up and function at full capacity. With the factories open, automobile sales spiked as well as real estate investment, which climbed up the ladder at double-digit rates.
With China’s recent rise and economic health, do you think the United States will experience the same anytime soon? Comment down below to let us know!
This article originally published on GREY Journal.