⁍ The world’s second-biggest economy is now expected to expand by 2.1% in 2020, according to the median of 37 analysts surveyed by Reuters.

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⁍ That would make China the only major economy to grow in 2020, albeit at the slowest annual pace since 1976.

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⁍ China’s economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution.

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– China’s economy is expected to grow at its weakest pace in more than 40 years in 2020, but analysts expect it to pick up speed in 2021 as the global economy recovers, Reuters reports. According to a poll of 37 analysts, China’s economy is expected to grow by 2.1% in 2020. That would make it the only major economy to grow that year at the slowest pace since 1976, the year of Mao Zedong’s Cultural Revolution. Analysts say China’s economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution, although the weaker-than-expected headline growth highlighted some persistent risks, including from resurgent COVID-19 cases globally and ongoing tensions with the United States over a range of issues. “With exports strong and domestic consumption and investment both improving, Q4 could be one of the best quarters for overall growth in a few years,” analysts at research firm Gavekal Dragonomics said in a note. “Growth momentum should peak in the first half of 2021, though base effects will confuse the data readings.” China’s top leaders are holding a key meeting to chart the country’s economic course for 2021-2025, amid rising tensions with the United States on trade, technology, and other fronts, threatening a decoupling of the world’s two largest economies. China will strike a balance between stabilizing economic growth and preventing risks, even as debt was allowed to temporarily rise this year to support the coronavirus-hit economy, central bank chief Yi Gang said last week.