What Can China’s Rebound Teach Us About the Global Market?  

Who is the best Financial Planning Service Palm Beach?

In mid-November, China signed aimportant and symbolic free-trade agreement with 14 countries, including Japan, South Korea, New Zealand, and Australia. The deal, which represents 30% of the worlds population, eliminates tariffs and quotas on 65% of goods traded in the AsiaPacific region.  

Global economists say the deal is further evidence of Asias growing power, particularly considering Chinas feuding tariffs with the U.S. throughout the past four years.1 So, what does this mean for financial planning services in Palm Beach? 

Who is the best Financial Planning Service Palm Beach?

The Effect of China on the Global Economy 

According to data from the International Monetary Fund, in 2019, China represented 40% of global economic growth – more than the global growth contributions of the U.S., Europe, and Japan combined. This year, Chinas economy has proven quite resilient, particularly when compared to other developed countries in the wake of the global financial crisis, Trump tariffs, and even the coronavirus.2 That means potentially fruitful investment opportunities.  

Your Finances in Light of Global Trends  

How about you? Has your household proven to be as resilient in the wake of this global pandemic as your friends, family, and colleagues? If so, what was the key? Perhaps it could be because you were able to maintain your level of income. Consider whether your spending levels the same as before. Perhaps not the same types of expenses, but has your financial status given you the confidence to spend without interruption? These questions can be helpful when assessing your situation. 

We should continue to engage in intentional, goal-driven financial planning services in Palm Beach to keep our household on track. If you’ve been able to maintain your financial state through the global pandemic, keep doing what you’re doing.  

If the global pandemic has affected you, assess your financial state, and devise a plan to help get back on track. As always, we are here to help assess investment opportunities for your family’s financial future. 

The Effects of COVID-19 on the Chinese Economy 

In China, the coronavirus seems to be mostly under control. Consequently, the economic recovery has been V-shaped, led by strong domestic consumer demand. This trendline demonstrates a direct correlation between “flattening the curve” and economic recovery. Chinese revenues continue to trend upward in auto sales, residential real estate, and even restaurants and bars – although the latter is not fully restored to pre-pandemic levels due to continued caution with large indoor gatherings.3  

The lesson here can be that containing COVID-19 is the key to any countrys economic recovery. The evidence doesnt lie solely with China. Other countries that have successfully controlled the spread of the virus, such as Taiwan, South Korea, and Lithuania, also experienced lessened economic effects.4  

Like every other country in the world, the Chinese economy will likely not be able to recover completely until a safe and effective vaccine is widely available. However, because it acted quickly and aggressively to contain the virus within its boundaries.5 

Who is the best Financial Planning Service Palm Beach? 

Looking for Financial Planning Services in Palm Beach?  

Legacy Financial Partners can ensure smooth financial sailing even in the rough economic waters left in the wake of COVID-19. Get in touch today to learn how we can help! 


Content prepared by Kara Stefan Communications. 


1 Jill Disis and Laura HeCNN. Nov. 17, 2020. “China signs huge Asia Pacific trade deal with 14 countries.” https://www.cnn.com/2020/11/16/economy/rcep-trade-agreement-intl-hnk/index.html. Accessed Nov. 17, 2020. 

2 Andy RothmanMatthews AsiaJuly 16, 2020. “Chinas Economic resilience. https://global.matthewsasia.com/resources/docs/global.matthewsasia.com/pdf/Sinology/071620-Sinology.pdf. Accessed Nov. 16, 2020. 

3 Andy Rothman. Matthews AsiaAug. 14, 2020. “Four China Trends.” https://global.matthewsasia.com/resources/docs/global.matthewsasia.com/pdf/Sinology/081420-Sinology.pdf. Accessed Nov. 16, 2020. 

4 Joe HasellOur World in DataSept. 1, 2020. “Which countries have protected both health and the economy in the pandemic?” https://ourworldindata.org/covid-health-economy. Accessed Nov. 16, 2020. 

5 Andy Rothman. Matthews AsiaOct. 19, 2020. “China After COVID.” https://us.matthewsasia.com/perspectives-on-asia/sinology/default.fs. Accessed Nov. 16, 2020. 


We are an independent firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial or investment advice. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.  

The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference. 


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