China was predicted to get a revival in months

As is reported by Chinadaily, the World Bank forecast that China would get a rebound in the mid-year. Ever since the economic downturn threw the world into bewilderment, people all over the globe have been waiting with anxiety for the recovery of the economies, both of their own countries and of the world. And China will possibly bring the first good news to the world with its powerful developmental tendency.

As we know, late in last year, China was severely hit due to the gloomy economic slowdown, especially in its export business. All influential export-oriented China wholesale companies admitted that their sales volumes and revenues reduced as the economic downturn exaggerated. What is worse, a big number of small and medium-sized enterprises closed down and millions of factory workers were dismissed. However, despite the big challenge, China still has firm confidence and takes enormous efforts to release a series of economic stimulus strategies.

Among all, to increase domestic consumption is proven to be a very efficient means to revive the economy. Until now, the government has launched a set of $586-billion stimulus strategies, which to a big extent facilitated to stabilize and even revive the country’s economy. According to Vikram Nehru, the World Bank's chief economist for the East Asia and Pacific region, a number of indicators show that China’s economy is reviving. Besides, a survey indicates that, compared with people from other countries, Chinese people have the most firm confidence in their economy. All these encouraging signals in China imply that China will possibly become the first country to get rid of the economic dilemma.

Empowered by the strong economic stimulus strategies, China is capable of maintaining a steady progress even under the economic downturn. It is true that lots of factory staff from manufacturing sector in China lost their jobs. But large-scale layoff does not happen in other Chinese enterprises, despite that some China-based companies had to cut back on staff to survive. For instance, it is well known that China’s export wholesale industry is negatively affected by the bad economic situation, but most wholesale websites in China continue to recruiting staff instead of laying off. And China’s economic stimulus projects offer more and more job opportunities for the unemployed. Those who lost their jobs gradually get new positions or new means for earning a living. This can tell why Chinese people still have much confidence in their country despite the international economic crisis.

Although the entire world’s economic recession is far from the end, it is believed that China will soon step out of the plight. As it is predicted, China will begin to recover in 2009 and settle down in 2010. Of course, the ultimate revival of the world’s economy depends on the rebouond of developed countries. But China’s efforts in restoring its own economy will definitely contribute to the final rebouond of the globe, as Chinese economy is always intimately connected with the world economy.

Nevertheless, the stimulus programs alone cannot bring China back to the growing rate as before. And considering the still worsening outlook of the developed countries, it is too early to say that China has already started its full recovery. Currently, China is still under huge pressure to regain a healthy economic development and progress. But the country’s encouraging though slow growth implies China has huge potential and prominent ability to fight against.