World economy is on track to experience a deep recession this year amid the mounting fallout of the COVID-19 pandemic, and China is the only major economy that will see positive growth, indicating the country's significant role in a time of crisis. In its latest World Economic Outlook (WEO) report released Tuesday, the International Monetary Fund (IMF) projected the global economy to contract sharply by 4.4 percent this year, 0.8 percentage point above its June forecast. Economists and observers believe that China's better-than-expected recovery -- boosted by control of the virus, government spending and strong exports -- has spillover effects upon its neighbors and trading partners, and will support global economy's "difficult climb" going forward. According to the latest WEO report, China's economy is expected to grow by 1.9 percent this year, the only major economy that will see growth this year. It is 0.9 percentage point above the June forecast.
