China’s manufacturing rebounded in March to record an expansion as authorities relaxed anti-coronavirus disease controls and allowed factories to reopen, an official survey showed Tuesday.
The spike came as the U.S. and rest of the world shut down businesses and furloughed workers.
The boost reinforces the argument that holds as long as the U.S. economy remains in question, China will seek to enter the perceived power vacuum created during the pandemic – likely at the expense of U.S. manufacturing and supply capabilities.
The ruling Chinese Communist Party however simply claims it is reviving the world’s second-largest economy after declaring victory over the coronavirus that started in the southern city of Wuhan last December.
The purchasing managers’ index issued by the Chinese statistics bureau and the official China Federation of Logistics & Purchasing rose to 52 from February’s record low of 35.7 on a 100-point scale on which numbers above 50 show activity increasing, accrording to an AP report.