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Opinion
Daniel Moss

Maybe There's Hope for a V-Shaped Recovery After All

China managed to post growth almost on par with pre-Covid levels, even if the figure fell short of expectations. 

V for coronavirus victory?

V for coronavirus victory?

Photographer: Tomohiro Ohsumi/Bloomberg

China’s economy is back-ish and the world can exhale. Without this rebound, the nascent global recovery would be on even thinner ice.  

The expansion reported Monday is close to the numbers China chalked up before Covid-19 tore through national and global commerce. Gross domestic product rose 4.9% in the third quarter from a year earlier. While that’s less than economists expected, it was an acceleration from 3.2% in the previous three months. The contraction of 6.8% between January and March, terrible as it was, is fading in the rearview mirror.