Kiwa Bio-Tech Products Group Corp (fka KWBT)

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World Bank: China Economy to Grow by 7.9% in 2021

"The region as a whole is expected to grow by only 0.9 percent in 2020, the lowest rate since 1967. While China is forecast to grow by 2.0 percent in 2020 – boosted by government spending, strong exports, and a low rate of new COVID-19 infections since March, but checked by slow domestic consumption – the rest of the EAP region is projected to contract by 3.5 percent.

Prospects for the region are brighter in 2021, with growth expected to be 7.9 percent in China and 5.1 percent in the rest of the region, based on the assumption of continued recovery and normalization of activity in major economies, linked to the possible arrival of a vaccine. However, output is projected to remain well below pre-pandemic projections for the next two years. The outlook is particularly dire for some highly-exposed Pacific Island Countries where output is projected to remain about 10 percent below pre-crisis levels through 2021."

https://www.worldbank.org/en/region/eap/publication/east-asia-pacific-economic-update