Chinaâs foreign trade boomed again in October, with exports surging at their fastest pace for 19 months and imports showing stable growth, as the worldâs second-largest economy continues to rebound from the coronavirus pandemic.
RTâs Boom Bust talks to the host of Economic Update, Professor Richard Wolff, about the reasons behind the better-than-expected growth of Chinaâs foreign trade.
âI think it is part of the reality that the Chinese economy has outperformed virtually every other economy for the last 30 years. It is capable of adjusting, it has learnt how to do that,â he says. Chinaâs economy adjusted early to the Covid pandemic and therefore avoided many of the horrible statistics, Wolff adds.
According to the economist, China, with its government-led economic system, is able to manage the global crisis in a âvery effective way.â Thatâs why their trade numbers show the results that they do.
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Originally posted on https://www.rt.com/business/506490-chinese-economy-outperformed-global-peers/?utm_source=rss&