Economics
UBS Raises China GDP Call to 9% as Biden Stimulus Drives Exports
- Growth to slow to 6.2% in 2022 after fastest growth in decade
- Exports to grow 16% this year, fastest expansion since 2011
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China’s economy will grow even faster than initially expected in 2021, driven by a strong rebound in the domestic economy and U.S. stimulus that should drive demand for Chinese exports, UBS Group AG economists forecast.
The world’s second-largest economy will expand 9% this year, they estimated Tuesday, faster than their earlier forecast of 8.2%. If achieved, that would be the quickest growth in a decade, and would bring forward the time when China’s economy surpasses America’s in size.