China’s economic reopening will provide a limited boost to world growth this year and is unlikely to lead to a surge in global energy price inflation, a think tank has said.
The Centre for Economics and Business Research estimates that China’s shift towards domestically generated consumer growth means there will be far more limited “spillover” effects for global growth than seen in previous world recessions.
Beijing reversed its zero-Covid restrictions late last year. The high infection rates that ensued are expected to have peaked last month, and China’s economy is on course to help lift global growth prospects with the resumption of factory production and shorter supply chain delays.
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