Macro Discussion UNIT 5 PDF

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Using the internet, find a newspaper article which focuses on recent economic events in China or Russia. What was the main point of the article? What facts or data did the article present? Did you agree or disagree with the author? Why?The article I read about on China states that retail is slowly g...

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Using the internet, find a newspaper article which focuses on recent economic events in China or Russia. What was the main point of the article? What facts or data did the article present? Did you agree or disagree with the author? Why? The article I read about on China states that retail is slowly growing but it’s significantly slower that expected. Retail grew by 3.9% from a year ago which is below the 4.6% that it was expected to grow annually (Cheng, 2021). From January 2021 to October 2021 the economy had a steady incline but then In November everything began to slow down. With so many uncertainties the recovery pace for China’s economy are very unsure. Chief economist Zhisei Zhang China’s “zero-tolerance” policy is contributing to the economy remaining weak. “Fiscal policy is about to turn supportive, but the zero tolerance policy will likely stay unchanged, and the property outlook is still unclear. It remains to be seen if policy supports can stabilize the economy in the coming months,” (Zhang, 2021). With travel restrictions in place there is a decrease in businesses that depend on the tourism which leads to the unemployment rate increasing. The one thing that is on the rise and has remained constant are exports which rose 22% from the same time last year. The facts and data that this article presented were comparisons of percentages that shows in increase or decrease of growth in different parts of the economy. Also it presented an interview with the chief economist with direct quotes. I agree with the author yes China is recovering slower than expected and a lot of uncertainty in the future of recovery. With a lot of businesses that rely on tourism and travel restrictions in place I understand the reasons in which China’s slow growth. I also live in a place where the economy depends on tourism and incoming flights with lots of restriction which deters passengers. With COVID still around and there are so many uncertainties with the growth if the economy.

REFERENCE: Cheng, Evelyn. (2021, Dec 14). China’s retail sales grow by 3.9% in November slower than expected. Retrieved From. https://www.cnbc.com/2021/12/15/china-retail-sales-grow-by-3point9percent-innovember-slower-than-expected.html...