Chinese Economic Rebound Expected To Be Smoother

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2020-04-17 HKT 09:13

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  Economist Ben Emons said the United States' economy was much more dynamic that China's so it would take time to restart. Photo: Reuters

An economist says China's rebound from the coronavirus pandemic will be much smoother than other parts of the world, given that it's a planned economy.

Ben Emons from Medley Global Advisors in Los Angeles told RTHK he expected China's GDP would be down 10 to 15 percent in the first quarter, the first time it'll report a contraction. The GDP number will be announced on Friday morning.

"It does show what happens when you shut down an economy to cope with a crisis like this," Emons said. "Whereas in the case of the developed markets, including the United States, the contraction will probably be more than double what China is. And that shows the difference between the economies."

Emons said the United States' economy was much more dynamic so it would take time to restart.

Emons said he expected the US economy to be in a deep recession for a while.