Comments on American media: Chinas economic V-shaped recovery leads the world

 Comments on American media: Chinas economic V-shaped recovery leads the world

Mr. Martins comments come after recent data showed Chinese manufacturing expanded in May.

Recently, data released by the National Bureau of statistics showed that Chinas official Manufacturing Purchasing Manager Index (PMI) in May was 50.6, the report said. Chinas manufacturing activity expanded unexpectedly in May, with Caixin / Markit manufacturing PMI at 50.7, according to a recently released private survey. A PMI reading above 50 indicates expansion and below 50 indicates contraction.

According to the report, Martin said similar economic recovery could be achieved in other Asian markets.

But elsewhere, he cautioned, everyone is sliding, staying at the bottom for two or three months before rebounding..

Thats what happens in Europe and the United States, and people havent recognized that yet, Martin said. They thought everything will be fine. Novel coronavirus pneumonia will disappear. But not so.

Still, Martin cautioned, the market is not recovering strongly.

We have suffered a lot, if we want to see indicators that really reflect the economy, then look at the unemployment figures, he said. By the end of this year, unemployment is expected to reach two figures in developed countries such as the United States and Europe, as well as Australia.

Martin said the world is now transitioning to the new normal.

Martin said: novel coronavirus pneumonia is the first wave, and this wave is gradually fading away, but we are facing two or three waves of economic unemployment, bankruptcy and default. They will last until the end of the year.