Is a 0.6% growth a "strong recovery"?, An increase of 5.5% is "losing momentum"
"The annual growth rate of over 10% is slowing down, and the Chinese economy is losing momentum." "At the end of 2021, the economy actually grew by 0.6%, and the UK has performed much better than expected." Recently, two news articles published by the veteran British media, Sky TV, in just three days, once again proved with naked "double standards" how absurd the argument of criticizing the Chinese economy in the international public opinion field is.
In the post pandemic era, the century long changes are accelerating and the overall global economic situation is not optimistic. According to predictions from relevant international organizations, the world economy may face stagflation this year, with GDP growth of 2.7%, inflation rate of 6.5%, and global goods trade growth of 1%, which will be significantly lower than normal years.
Specifically for each country, "every family has its own difficult to read scripture.". For China, our current total economic output has exceeded 17.7 trillion US dollars, and even a 5% growth would be a huge increase of nearly 1 trillion US dollars. This scale is roughly equivalent to the total economic output of individual developed countries. Seeking development on such a large scale, a growth rate of 10% is clearly unsustainable.
On the other hand, even though China's GDP growth rate of 5.5% in the first half of the year has already ranked among the top among major economies in the world, it remains the "leader" of the global economy and the most important "engine" driving global economic growth.
The overall economic data is stable, but the Chinese government is still cautious and has clearly stated that "after a smooth transition in epidemic prevention and control, economic recovery is a process of wave like development and tortuous progress." This not only identifies potential problems in economic development, but also actively takes measures to solve them. For example, in just one month, a package of policies such as "Measures for Restoring and Expanding Consumption", "Notice on Implementing Several Recent Measures to Promote the Development of Private Economy", "Notice on Improving the Government's Integrity Performance Mechanism and Optimizing the Development Environment of Private Economy", and "Opinions on Further Optimizing the Foreign Investment Environment and Increasing the Attraction of Foreign Investment" have been intensively introduced, quickly responding to market concerns.
On the other hand, some developed countries refuse to acknowledge the issue and try their best to whitewash peace. Take the UK as an example, about 80% of its economic structure is in the service industry, which is also the area most severely affected by the epidemic. Because of this, the COVID-19 epidemic has caused a painful blow to the British economy. Statistics show that the UK economy declined by 1.2% in the fourth quarter of 2021 compared to the same period in 2019. However, at present, the UK Office for National Statistics claims to have obtained new data, changing from -1.2% to+0.6%, allowing the G7's "crane tail" to instantly counterattack and become a presence far ahead of Germany. In response to this, Chancellor of the Exchequer Jeremy Hunter was quite proud, stating that "the speed of Britain's recovery from the pandemic is much faster than imagined, and this fact once again shows that those who are determined to belittle the British economy have been proven wrong." On this issue, Western media, who have always regarded themselves as "government critics," have become the echo tube, creating an encouraging picture of recovery.
Economic development has never been smooth sailing, and the Chinese economy has always grown and grown through overcoming difficulties. This is not only a historical law, but also an economic law. But some Western politicians and media who wear colored glasses and are good at "presumption of guilt" cannot see, or do not want to see, such facts. Whenever there is an opportunity, they start to criticize China, concocting views such as "economic peak theory" and "power loss theory", attempting to lead a biased tone and disperse people's minds.
Throughout the more than 70 years since the founding of the People's Republic of China, the voice of decline has never ceased, and various "collapse theories" have never ceased. However, the Chinese economy has not collapsed, but rather its comprehensive national strength is increasing day by day, and people's living standards are constantly improving, creating two miracles: rapid economic development and long-term social stability. From this perspective, using the "spring and autumn writing style" to create "economic double standards" not only exposes the hypocrisy of some people, but also demonstrates their foolishness.
Harming others will not benefit oneself. In the past three years, whether it is the rampant epidemic or the delayed crisis in Ukraine, it has been revealed that in the era of globalization, "whoever spreads bad news will ultimately be bad news for everyone", and countries should work together rather than squeezing each other. At present, the United States and Europe are experiencing a rare high inflation in decades, and the weak growth momentum is an objective fact. At this moment, if the Chinese economy really collapses as Western media wishes, the United States and Europe may only fall into a bigger economic disaster.
As the world's second largest economy, second largest consumer market, largest manufacturing country, largest goods trade country, second largest service trade country, and largest foreign exchange reserve country, China's economy has tremendous development resilience and potential. This is not something that can be criticized or rumored. The "crayfish and crickets" continued to chirp, but could only add a few more strokes to a stack of "slapping face" bound books.
