Lessons from China’s development model

Comprehensive initiative: Farmer Wang Enhai loading baskets of green plum in Quanfa Village of Wushan County, China, for sale. Like many others in Quanfa, Wang managed to climb out of poverty through China’s targeted poverty reduction programme. — Xinhua/file photo

DESPITE the Covid-19 pandemic and the global economic stagnation in 2020, China managed to record 2.3% growth and a US$4.6tril (RM17.69tril) trade volume last year, becoming the only major economy to grow during the devastating year.

Already the world’s second largest economy with a GDP of US$14.7tril (RM61.92tril), it is no surprise that China managed to bounce back easily.