The Strong Rebound of China’s Domestic Market Economy is Significantly Increasing Demand for Mandarin and Cantonese Outsourced Call Center Services
“Despite the economic setback throughout Q1 and Q2 of 2020, China’s domestic economy has been largely brought under control and has even strongly rebounded as of the end of the 4th financial quarter of last year, 2020, creating a significantly increase in demand for outsourced call center customer service and tech support in the Chinese Mandarin and Cantonese languages.”
China’s Domestic Economy: A Strong Post-Pandemic Rebound
There has been no doubt that the COVID-19 pandemic has had a deliberating effect on global economies; authorities worldwide had to implement lockdown measures to curb the spread of the disease which brought a halt to global economic activity. Furthermore, businesses had been forced to reduce operations or even shutdown — and, within the services industry especially, companies were amongst the hardest hit, severely hindering economic growth. Despite the pandemic’s effect, China’s economy continues to recover at a significant rate and even shown a robust gross domestic product (GPD) growth in 2020’s Q4 of 4.9%, bringing its GPD to 6.5%, beating market expectations, and making China’s economy one of the few in the world to record significantly positive growth despite the pandemics gruesome effects.
According to a third-party research organization, the retail sales sector found strong growth (September 2020) by 3.3.% percent as opposed to a year earlier, indicating the fastest growth since December 2019; likewise, industrial output showed an increase of 6.9% after a 5.6% increase in August 2020, indicating that the factory’s sector recovery was also sustaining its momentum. In addition to the growth found by the Chinese retail sales and industrial sectors, it has also been forecast that China’s economy is expected to overtake the U.S. economy in terms of the dollar by 2028 — five years shorter than was expected a year ago — due to the fact that China has been successfully weathering the COVID-19 pandemic better than the Western hemisphere according to a report by the Centre for Economics and Business Research; the Centre for Economics and Business Research’s World Economic League Table proposes that China’s economy could become a high-income economy as early as 2023 — and, it could even double in size by 2035 under the Chinese government’s new Five-Year Plan which the Chinese President, Xi Jinping, has determined as the end of an aim to achieve modern socialism within 15 years.
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