China Daily, October 5th. A number of foreign media said that in the post-epidemic era, China's economic recovery is accelerating, which will further attract the influx of foreign capital and also help boost the economies of neighboring Asian countries.
According to the US Consumer News and Business Channel (CNBC) on the 5th, Invesco Asia Pacific global market strategist David Chao said that as China shows a strong rebound from the new crown virus pandemic, Asian economies will benefit.
He said that the focus is "whether Chinese consumers can quickly resume normal activities. I think the Chinese people will have a much greater influence and will boost other Asian economies."
His company found that during the Golden Week, the number of restaurant reservations and family trips in China set "records."
At the same time, foreign media believe that China's economic recovery process far exceeds that of developed countries.
Forbes reported on the 5th that not a large multinational company, nor a foreign company in Shanghai or Beijing wants to withdraw from China.
China has recovered from the epidemic better than most Western European countries, and certainly better than the United Kingdom. They are talking about implementing more lockdowns as cases increase.
The manufacturing PMI released by the National Bureau of Statistics of China rose from 51 in August to 51.5 in September.
This is the second highest level this year, and it has risen for 7 consecutive months.
The strong manufacturing PMI is consistent with the improvement in high-frequency data driven by the manufacturing industry and the strengthening of regional trade activities (mainly South Korea and Vietnam).
The trend of the Caixin Manufacturing Purchasing Managers Index is different from the official data, but even higher than the official data. It stabilized at 53 again in September.
China is moving in the right direction.
In contrast, some European countries seem ridiculous. Can we still call them "advanced economies"?
Foreign media believe that the rapid recovery of China's economy in the post-epidemic era attracts influx of foreign capital, and decoupling from China is costly.
"The Wall Street Journal" published on the 5th titled "The cost of "decoupling" enterprises from China is as high as $1 trillion?
According to the report, some companies hope to decouple from China to a certain extent, or at least achieve business diversification, in order to hedge political or reputational risks and prevent future shocks caused by reasons similar to the new crown epidemic.
But ironically, since China has become the first major economy to recover from the epidemic and resume growth, the dependence of multinational companies on China has actually increased in many cases.
Foreign direct investment flowing into China is rapidly rebounding.
Companies such as Nike and Tesla described China as a key factor supporting their second-quarter performance.
At the same time, the cost of rebuilding the supply chain is indeed high.