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OECD expects China's economy to grow 8.5% in 2021


The Organization for Economic Cooperation and Development (OECD) released the latest economic outlook report on the 21st. It is estimated that the global economy is expected to grow by 5.7% and 4.5% respectively this and next year, as the global new crown vaccination process continues and economic activities gradually resume. This organization predicts that China's economic growth rate will reach 8.5% this year.

The OECD predicts that the G20 economy will grow by 6.1% in 2021, and the US and Eurozone economies will grow by 6% and 5.3% respectively.

The report pointed out that different economies have different advantages and disadvantages before the outbreak of the new crown epidemic, and different response measures during the epidemic, resulting in an imbalance in the global economic recovery. The report calls for stronger international efforts to make the global economic recovery on track to provide low-income countries with the resources needed to promote vaccination. "This is for their benefit, but also for the global benefit."

In addition, the OECD stated that there are also significant differences in global inflation prospects. Inflation rates in the United States and some emerging market economies have risen sharply, but inflation rates in advanced economies such as the Eurozone are still relatively low.