Report: China Saw Record Gains in 2020 as COVID Lockdowns Tanked Global Economies
Economic reports released on Jan. 18 indicated that China’s economy grew by 2.3 percent in 2020 despite the economic effects of global lockdown measures imposed in response to the coronavirus pandemic.
China saw a record $535 billion surplus in 2020 — a 27 percent increase from 2019 — as well as a 6.5 percent GDP spike in the fourth quarter of 2020 and record stock market gains, according to CNN.
Economic statistics released in the last several months appear to show that China was the only economic power to see such gains in a year when many global economies contracted at a record pace.
The American economy alone shrank by 3.6 percent in 2020, while the European economy fell by 7.4 percent, according to The Wall Street Journal.
The devastation of lockdowns led to a global economic decline of 4.3 percent.
China’s #GDP grew 2.3% year on year to 101.5986 trillion yuan in 2020, according to an SCIO press briefing Monday. #PressroomHighlights #ChinaEconomyhttps://t.co/ERPt2e4fYi pic.twitter.com/arEashAfUO
— China SCIO (@chinascio) January 18, 2021
These statistics follow continuing reports that China knew about the coronavirus as early as fall 2019 but deliberately concealed critical information regarding the outbreak.
In May 2020, the Department of Homeland Security released a report highlighting attempts by the CCP to hoard medical supplies, according to NBC News.
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