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| The Chinese economy is poised to deliver solid rebound next year, bolstered by its underlying strength and policy stimulus, a senior U.S. economist has said. | ||||||||
| "2023 should be a rebound year, there's a lot of stimulus now in investment," Albert Keidel, a development economist specializing in East Asia, told Xinhua in a recent interview. | ||||||||
"With low inflation, China is in a good position to use its countercyclical tools to stimulate the economy now and in 2023," he said, adding that "the underlying economy remains healthy."| Keidel, an adjunct professor of economics at George Washington University, said China's economy has maintained resilience amid challenges from COVID incursions and a complex international environment. | Sectors such as high-tech, e-economy and e-commerce sales have presented a strong momentum, evidenced in key economic indicators so far this year, he said. | "The strong point is investment levels are quite high, particularly public investments," which also bodes well for continued expansion next year and beyond, noted Keidel, previously a senior fellow at the Atlantic Council, a U.S. think tank. | Moreover, the substantial increase of foreign direct investment in the Chinese mainland showed "a lot of confidence there" from global investors, he said. | The economist, also a former senior economist at the World Bank's Beijing office, said China's COVID-19 policy over the past three years has helped minimize the disruption to the structure and organization of the labor force, laying a foundation for the economy. | As China is making efforts to optimize its pandemic response, more potential in the economy will be unleashed, in particular in the fields that require face-to-face services such as restaurants and catering, he said. | Looking ahead to 2023, "the Chinese economy will be strong," and "will be a bright spot in the world," providing "a node of support in terms of global demand," said Keidel. | | |
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