Profiteering off of COVID

Post #1076

Profiteering is distinct from free market profit generation because profit in free markets means consumers were treated well. Profiteering utilizes non-free means to acquire cash, such as medical mandates that force people to pay for something. No one profited as much off of COVID as China, as their GDP grew by over 20% in a year:

Being the largest source of face masks and medicines, pandemics help China. It seems like other crises help China also, like the Great Recession of 2009:

While China acquired 21.3% GDP growth by profiteering off of COVID, they got even higher growth in the aftermath of the Great Recession.

Reference

World Bank, Gross Domestic Product for China [MKTGDPCNA646NWDB], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MKTGDPCNA646NWDB