Is China's Economic Rebound Genuine or a Mirage? Explore ETFs [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
According to CNBC, China's economy performed better than expected according to the 4.6% growth as estimated by a Reuters poll. Additionally, on a quarter-on-quarter basis, China's GDP increased 1.6%, exceeding the anticipated 1.4% according to Reuters polls and marking an improvement from the revised 1.2% expansion in the previous quarter. According to Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, as quoted on CNBC, robust external demand played a significant role in the country's economy performing better than estimated, with export volume climbing an impressive 14% year on year. He also added that a weakening Yuan against the greenback further supports China's exports, making it more cost effective. China to Drive Global Growth? As per Asian Development Bank (ADB), as quoted on CNBC, China will remain as the growth driver for the global economy even after experiencing an economic slowdown. Despite a deceleration in growth, according to ADB data, C
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