Monday, 25 May , 2020     |     1203      |      +      |     

Kuwaiti experts expect China’s economy to recover quickly as virus wanes

Kuwaiti experts expect China’s economy to recover quickly as virus wanes : Google
  • Business

China’s economy will recover faster and stronger when life gradually returns to normal as the coronavirus outbreak wanes in China and some other countries, Kuwaiti experts have said.

Hajjaj Bukhadour, an Kuwaiti economic analyst who has worked for several governmental and private institutions, told Xinhua the Chinese economy is solid and will experience a strong recovery due to its competencies and capabilities.

Mohamed Ramadan, economic researcher and writer for the Kuwaiti newspaper al-Qabas, said it is unlikely that China will fail at recovering its economy, as the country has overcome many crises in the past, including the economic crisis of 2008.

Economic analyst Maitham Al-Shas also believes that China has the ability to recover strongly and quickly. He expects several sectors of the Chinese economy to recover first, such as the retail and clothing sectors, in addition to the development of digital, technological, and medical industries.

“China will have a prominent role in these industries after the virus wanes,” he said.

According to Kuwaiti experts, the global health crisis would spawn fresh opportunities for a raft of sectors including health, entertainment and leisure.

Bukhadour said he expects China to play a major role in developing medical products, in addition to paying more attention to the environment and e-learning.

According to Ramadan, a new way of life and requirements for social distancing will cause a high demand for home office electronics such as webcams for working remotely and sports equipment for exercising at home.

Meanwhile, major sectors including tourism, travel and aviation have been badly hit by the crisis due to precautionary measures to prevent the spread of the pandemic, experts said.

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Category: #Business | 2020/05/25 latest update at 8:00 AM
Source : Xinhua | Photocredit : Google
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