(Question about things) Short comment: What did China do right in the global economic recovery race?

　　China News Service, Beijing, July 19th, title: What has China done right in the global economic recovery race?

　　China News Agency reporter Pang Wuji

　　Once again, China has injected strong impetus into the recovery of the world economy with its own economic resilience and sustained growth.

China released a semi-annual economic report that is highly concerned by international public opinion last Thursday: China's GDP in the second quarter increased by 7.9% year-on-year, and the two-year compound average growth rate was 5.5%.

　　After a “record-breaking” rise of 18.3% in the first quarter, China’s economic recovery did not slow down in the second quarter, breaking past speculations about the weakness of China’s economic recovery.

Data map: A busy scene at the container terminal.

Photo by Xiong Yaozhang issued by China News Service

　　Since the second half of last year, China has continued to lead in this global economic recovery race.

In October last year, CNN published a report entitled "China is Winning the Global Economic Recovery (Competition)", which has already been predicted to come true.

That year, China's economy grew by 2.3% year-on-year, making it the only major economy in the world that achieved positive economic growth.

　　As of the first half of this year, China’s economy continued to lead the world with a year-on-year growth rate of 12.7%, while the world’s major economies were still struggling to recover amid fragility and uncertainty.

In the first quarter, US GDP increased slightly by 0.5% year-on-year.

Japan's GDP fell 1.6% year-on-year.

The economies of European countries such as the United Kingdom and Germany were still in the quagmire of negative growth in the first quarter.

　　What did China do right?

　　Of course, the sustained recovery of China's economy is inseparable from strong macroeconomic policies, ultra-large-scale market advantages, a complete industrial chain, and "export prosperity" under the influence of the epidemic.

Aside from this, the reason why China became the first large economy to get rid of the COVID-19 blockade is largely due to China's correct choice of a key multiple-choice question: "Save life or save the economy?"

　　As one of the most difficult choices faced by countries under the impact of the epidemic, China’s answer is the former without hesitation.

This is different from the choice of most Western countries, including the United States.

For China, the goal of development is to satisfy the people's yearning for a better life.

Without "people", the meaning of economic development is lost, and health is the prerequisite for people to live a better life.

　　To stop the spread of the virus, Wuhan, a city with a population of tens of millions, was "closed" for 76 days.

Hundreds of millions of Chinese put on masks and left public places.

A large number of restaurants closed and shops closed, and this super "world factory" temporarily suspended the roaring machine.

Data map: In March 2020, Wuhan was "closed" for more than one month. Under the epidemic, the Yellow Crane Tower scenic spot has ceased to be noisy.

The picture is overlooking the entrance of the scenic spot.

Photo by China News Agency reporter Yang Chengchen

　　The huge economic losses brought about by "isolation" can be imagined.

In the first quarter of 2020, China’s small GDP growth was measured in trillions of yuan (RMB), and the quarterly economic growth rate dropped for the first time since 1992.

Not to mention the subsequent problems such as tight fiscal revenues and expenditures and sharp increase in employment pressure.

　　But after the "short-term pain", China was able to quickly control the epidemic, resume work and production in an orderly manner, and took the lead in getting out of the haze.

And those countries that choose to "protect the economy" from the beginning have to face the constant counter-attack of the epidemic, the ever-increasing number of diagnoses and deaths.

When hospital beds are extremely tight, medical supplies such as ventilators and masks are frequently in emergency, and the people are at risk of their health, the economy will obviously not be unscathed, and the result will be "lost of people and money."

Data map: The company resumes work and production in an orderly manner, and employees work on the production line.

Photo by China News Agency reporter Liu Ranyang

　　Mao Zedong, the founding leader of the People’s Republic of China, once said a meaningful sentence: "If you save land and lose people, you will lose people and land; if you save people and lose land, you will save people and land."

　　In addition, the ancient Chinese civilization also put social order at the top of cultural traditions.

The people's comprehensive understanding and support for the country and the government's response to the epidemic is also a unique advantage that Western countries such as the United States and Europe do not have.

　　In the second half of the year, although China's "outstanding" situation may be difficult to sustain, as the global economy accelerates, China's consumption and investment activities will also accelerate to rebound, and the economic recovery foundation is expected to be more stable.

(Finish)