Editor’s note: John Ross is a senior fellow at the Chongyang Institute for Financial Studies, Renmin University of China. The article reflects the author’s opinions and not necessarily the views of CGTN.
The conclusion of the year end report of 2022 is crucial to make an economic balance sheet for both the preceding period, along with perspectives for 2023. The data is available for most of the year, as opposed to media speculation, which discloses the relative performance of major economies.
China has made a major policy change to deal with COVID, which makes this a suitable point to compare economic performance during the pandemic period. Both measures show that China’s economy had outperformed the U.S. and Europe during the COVID-19 pandemic and will continue on for next year. China’s outperformance could increase in 2023.