China came to the rescue of the global economy in 2009. This wasn’t for altruistic reasons as a government study said that unless a huge stimulus programme was launched, 20m Chinese workers would return to the coastal cities from inland China after the Lunar New Year in 2009 without jobs because of the collapse of orders from the West for China’s manufactured goods due to the global financial crisis.
But who cares? Whatever the motives, some one-third of global economic growth in the ten years between 2009 and 2018 came from China, up from less than 20% in the decade […]
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