China, Europe closely tied in economy

BERLIN: In its East Asia and the Pacific Economic Update for April 2023, titled "Reviving Growth," the World Bank forecast that the projected slowdown in growth in advanced economies may be largely offset by signs of revival in China's economy.

This was reflected in the fact that heads of state and chief executives of global corporations have been visiting China one after the other, united in the belief that China and its market are not an option, but a need.