Workers tracking sales and trends in a data control room at Chinese e-commerce giant JD.com’s headquarters in Beijing on Singles’ Day, the world’s biggest retail event, on November 11. China’s economic recovery is going from strength to strength, with retail sales growing at an annualised rate of 5 per cent last month. Photo: Getty Images Workers tracking sales and trends in a data control room at Chinese e-commerce giant JD.com’s headquarters in Beijing on Singles’ Day, the world’s biggest retail event, on November 11. China’s economic recovery is going from strength to strength, with retail sales growing at an annualised rate of 5 per cent last month. Photo: Getty Images
Workers tracking sales and trends in a data control room at Chinese e-commerce giant JD.com’s headquarters in Beijing on Singles’ Day, the world’s biggest retail event, on November 11. China’s economic recovery is going from strength to strength, with retail sales growing at an annualised rate of 5 per cent last month. Photo: Getty Images
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why China’s pandemic-induced rally is on solid ground, even as the US and EU flounder

  • Unlike the last global crisis, it is not China but the US and Europe that are the main shock absorbers for the world economy. While China’s debt is a concern, advanced economies’ over-reliance on ultra-loose monetary policy is a bigger one

Nicholas Spiro
Nicholas Spiro

Updated: 4:29am, 18 Dec, 2020

Why you can trust SCMP
Workers tracking sales and trends in a data control room at Chinese e-commerce giant JD.com’s headquarters in Beijing on Singles’ Day, the world’s biggest retail event, on November 11. China’s economic recovery is going from strength to strength, with retail sales growing at an annualised rate of 5 per cent last month. Photo: Getty Images Workers tracking sales and trends in a data control room at Chinese e-commerce giant JD.com’s headquarters in Beijing on Singles’ Day, the world’s biggest retail event, on November 11. China’s economic recovery is going from strength to strength, with retail sales growing at an annualised rate of 5 per cent last month. Photo: Getty Images
Workers tracking sales and trends in a data control room at Chinese e-commerce giant JD.com’s headquarters in Beijing on Singles’ Day, the world’s biggest retail event, on November 11. China’s economic recovery is going from strength to strength, with retail sales growing at an annualised rate of 5 per cent last month. Photo: Getty Images
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.