NY Pilot’s Boom Bust checks out the effect of the Covid -19 pandemic on several sectors. It likewise takes a look at China’s current statement that it has actually gotten rid of hardship nationwide, and how it handled to do it.
“We used to be skeptical about Chinese statistics like these, but we’ve learnt, over the past 20 years, that it turns out they’re mostly correct. You can’t fake it for very long – other statistics undercut your claims if they’re not true,” states the host of Economic Update, Professor Richard Wolff.
He discusses to Boom Bust that “This is probably the case here, and testimony to what this society has been able to do. We’ve seen the way they handled Covid-19. We’ve seen the way they’ve grown their economy. We’ve seen the way they’re one of the few economies this year that is still growing as opposed to shrinking.”
According to Wolff, “They are demonstrating, yet again, that the Chinese economy is a remarkable player in today’s world.”
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