India is Seizing the Opportunity in the Middle of Global Supply Chain Disruption
The airport in the Indian capital are waking up from the pandemic. Busy airports are just one silhouette of In¬dia’s economic recovery. In the 2021-2022 fiscal year (as of the end of March 2022), India’s GDP has grown by 8.7% year-on-year, the fastest growth among the world’s major economies. According to the forecast of the World Bank and other institutions, in the next 20 years, the average growth rate of India’s economy will be around 8%, while that of China will be around 4.5%-5%. Based on this sce¬nario, although India’s economy will still be smaller than China’s in the coming 20 years, how to face a neighboring country with a higher development speed will be a chal¬lenge China has to face.
In the past 20 years, India’s status in emerging econo¬mies has become increasingly prominent, and people have been talking about India’s robust rise. Recently, in the face of fractured global supply chain, Vietnam and India are becoming the two major preferred destinations for global companies. But unlike Vietnam, which passively under¬takes external opportunities, India has more ambitions for its own economic development.
The Booming Wellness Retreat Town Indus-try in China is Facing Many Challenges
The wellness retreat industry for the elderly is rising in China, and a large amount of capital is flocking into this field. The wellness retreat industry has also become an important direction for the economic transformation and development of local governments.
But the industry is still facing various challenges. Af¬ter initial construction, the development of some wellness retreat towns has stalled and are now deserted. Caijing reporters have learned from various resources that the above-mentioned stagnant or abandoned wellness retreat towns are not rare in the country. In the past few years, there has been a boom in the construction of such towns across the country, and it is not uncommon for a large number of projects to become abandoned. The industry is still in the exploratory stage as a whole, and its develop¬ment model needs to be further studied and practiced in order to explore a replicable development path.
China’s Economy Shows Signs of Overall Recovery
The impact of the pandemic will continue, in the same time, China’s economy is under enormous pressure. However, if the Chinese government can seize the win¬dow of economic rebound to increase policy support, the country could achieve an overall economic recovery.
Since mid-May, thanks to the loosening of COV¬ID lockdown and a package of economic stabilization measures, the economy is showing signs of rebound. Local governments have also introduced economic sup¬port policies such as tax cuts. With the improvement of the epidemic control and the gradual implementation of economic stabilization policies in various places, the economy has begun to recover. However, under the in¬fluence of uncertainties such as the epidemic and global economic development, China’s economy still faces many challenges. The actual implementation of the epi¬demic prevention policy and various economic policies will be a key to determining the economic prospects in the second half of the year.
Shanghai Ends COVID Lockdown and Braces for Economic Recovery and Revitali¬zation
In the past two months, companies in Shanghai have continued to work hard to overcome many unimaginable difficulties in the face of strict epidemic prevention and control measures. Today, the Yangtze River Delta with Shanghai at its core, is working hard to recover.
In early 2020, China’s economy quickly got back on track thanks to the rapid containment of the pandem¬ic. However, overseas production was less affected this year. In the wake of new wave of epidemic in Shanghai, some production orders were shifted to other destinations like Europe and Southeast Asia. Some companies have suspended investment plans amid concerns over policy uncertainties. Some Shanghai entrepreneurs interviewed expressed similar concerns to Caijing’s reporter. In their view, the enterprises have not yet felt that the government has taken substantial measures to effectively promote pro¬duction