China set to be lone major economy to show growth this year

Beijing

CHINA is set to become the only major economy in the world to experience growth this year. Analysts are upbeat on the Chinese economy's prospects for 2021, estimating gross domestic product (GDP) to grow by over 8 per cent. However, the recovery also poses many questions on its sustainability as inventories pile up and as bond defaults accumulate.

The world's second-largest economy has proved particularly resilient after its GDP plummeted by a record 6.8 per cent in the first quarter.