Top economists from home and abroad expressed their positive views towards China’s economic recovery at a high-level online conference on Friday, despite economic recession underway worldwide due to COVID-19 pandemic.

Thomas J Sargent, a 2011 Nobel laureate in economics and professor of economics at New York University, said their best economic-epidemiology models indicate that “even under what seem to be the wisest public policies, the world economy is at the beginning of a deep and long depression”.

“China has been a leader in testing, tracking and treatment, as well as lockdowns and social distancing,” Sargent said during the 2020 Global Venture Capital Online Conference, adding that the Chinese government’s fiscal and monetary policies have proven effective.

The event was held online on Friday and Saturday, with venture capitalists, investors, dealmakers and business elites from around the world taking part. Its main venue was in Qingdao, East China’s Shandong province.

Sargent said financial and economic opportunities have been seen in China, such as reaffirming the Belt and Road Initiative, seeking a creative way to serve domestic and international sovereign debts and public-private risk-sharing, as well as new reserve currency.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

U.S. senator to liquidate individual stock shares after coronavirus flap

WASHINGTON (Reuters) – U.S. Senator Kelly Loeffler said on Wednesday she would liquidate her individual stock share positions after the wealthy Republican and her husband were criticized over sales of millions of dollars in stock during the coronavirus outbreak. Loeffler,…

U.S., Colombia to bring $5 billion in investment to rural areas

BOGOTA (Reuters) – The United States and Colombia will work together to bring new investment to rural areas of the South American country, officials said on Monday, as Colombia’s president reiterated support for the U.S. candidate to lead the Inter-American…

Latest 737 MAX delay prompts big buyer flydubai to consider leasing options

DUBAI (Reuters) – Airline flydubai, a major Boeing (BA.N) 737 MAX customer, is considering leasing additional aircraft following the latest setback to the grounded jet’s return to service. Boeing said on Tuesday it now does not expect to win approval…

Apple surpasses $2 TRILLION, doubling in value in TWO years. It’s INSANE, amid the worst depression ever, and it will end badly

Apple – which has just become the first US company to hit a two-trillion dollar Market Cap – is doing a four-for-one stock split on August 24. It took Apple 38 years to get a valuation of one trillion dollars,…