The Chairman of the People’s Republic of China Jinpin instructed the officials to ensure the economic growth of the country, the leading pace of development of the US economy, writes the Wall Street Journal newspaper with reference to informed sources.
According to the newspaper, the issue of the competition arose in the last few weeks at the meetings of Czypine with high-ranking officials of the economic and financial unit.
“The Chinese leader stated that ensuring stability and economic growth is extremely important and necessary to show the advantage of the Chinese Single-party system in front of Western Liberal Democracy and the United States, which will be designed both in political and economically,” the material says .
According to the publication, in response to the call in the relevant structures of the PRC, there are plans to accelerate the implementation of large construction projects, as well as on the production of coupons for individuals designed to stimulate consumer spending.
In the last quarter of 2021, the US economy was ahead of China’s economy, an increase of 5.5% on an annualized compared with 4.0% in China. President Biden then noted that the American economy grew faster than Chinese for the first time in 20 years. As stated in the material, it caused discontent of a number of managers in Beijing.
International Monetary Fund a week ago in his report lowered China’s economic growth forecast for 2022 by 0.4 percentage points, up to 4.4%, for 2023 – by 0.1 percentage points, up to 5.1%.
According to the IMF forecast, the strategy of zero incidence of coronavirus conducted in the PRC entails the strengthening of restrictive measures that negatively affect the level of personal consumption in China and in general on the growth rate of the country’s economy. This, in turn, has broad implications for the entire Asia-Pacific region.