Gut two years after the first Covid case was registered in the Chinese city of Wuhan, it is becoming increasingly clear which countries, from an economic point of view, are getting through the pandemic comparatively well: The economic power of the two economic superpowers, the United States and China, grew significantly despite the pandemic. The other major economies – including Germany – are lagging behind.
The latest data from the organization OECD show that the American economy was 1.4 percent larger at the end of the third quarter than at the end of 2019. The Chinese economy, which is suffering from drastic corona lockdowns occasionally but only temporarily, was therefore already this spring 7.1 percent larger than at the time of the corona outbreak. While France and some other European countries have reached pre-crisis levels, the German economy was 1.1 percent weaker in autumn than before Corona. The above-average proportion of industrial production in Germany is currently slowing down the economic recovery, because this segment is particularly suffering from congestion on the world’s oceans and interruptions in supply chains. Since the German economy is only likely to stagnate at the moment, economists are assuming that economic strength will only return to pre-crisis levels in the course of the coming year.
.
#World #economy #America #China #pulling