Although impressive, the growth is relative to Q1 2020 when the Chinese economy contracted significantly as the country was the first to suffer from COVID-19. The International Monetary Fund forecasts the world’s second biggest economy after the US to grow the fastest this year at 8.4%. Nearly half of world’s COVID-19 vaccination have been administered in those two countries (as of April 2021).
Dr Nakhle expressed concerns for the poorer nations which faced the pandemic from an already weak stance; these will struggle the most even when the pandemic is brought under control.
“New Opportunities 2021: Some optimism for oil markets“, Dr Carole Nakhle, Feb 2021
“Oil demand outlook and oil inventories“, Dr Carole Nakhle, Apr 2021
“Global Economy and Energy Markets Weekly Commentary – 15th Apr ’21“, Carole Nakhle, Apr 2021