The Chinese economy, the second in the world, grew by 4.5 percent in the past quarter compared to a year earlier. The end of the corona lockdowns in the country caused the Chinese to let their money roll again.
For years, China has had solid growth figures of between 5 and 10 percent per year. But the pandemic put a brake on that growth. The Beijing government had a very strict corona policy, with a very strict lockdown following a few infections. As a result, growth rates fell to the lowest level in years.
In the first three months of this year, the economy in the Asian country picked up steam again. Consumers spent more money in stores, where sales increased by more than 10 percent on average. Exports also grew.
However, there are still fears that the high debt burden in the country could cause problems. China could also be hit by a global recession. The economy in the country is highly dependent on international trade.
