Worse-than-expected economic figures in November might have been a bigger driver behind the relaxation of China’s strict “zero dynamic” COVID-19 rules than the public protests were.
The November decline was due partly to disruptions in key manufacturing hubs like Guangzhou and Zhengzhou, where violent clashes between workers and the police took place.
Pedestrians gather around a Christian Dior installation at Zhangyuan on Wednesday in Shanghai. The central government recently eased coronavirus restrictions. Negative PCR test results are no longer necessary for most public facilities.On the bright side, Alicia Garcia-Herrero, chief economist of Asia-Pacific at wealth management firm Natixis, believes the worst will be over by end of the first quarter, and GDP growth in China will be able to reach at least 5.5 percent in 2023.
“The key here is to know whether the wave of infections could have some hard impact on supply, and that’s the key for the rest of the world. Inflation is going to increase because of supply chain disruptions. Not because of the lockdowns, but because of the absent [workforce] and the massive contagion that we’re seeing now in COVID[-19] cases in China. That’s the risk,” Garcia-Herrero said in an TV interview with Bloomberg.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China Meheco to distribute Pfizer's COVID treatment in ChinaChina Meheco Group Co Ltd said on Wednesday it signed an agreement with Pfizer Inc to import and distribute the U.S. drugmaker's oral COVID-19 treatment Paxlovid in mainland China, as the country braces for a surge in COVID patients after scaling back its 'zero COVID' policy.
Lire la suite »
Rapid Heartbeat Condition 5 Times More Likely With COVID Than With COVID VaccineNew research has revealed a link between a lesser known heart syndrome and COVID infection, with a much smaller link seen between the condition and COVID vaccination.
Lire la suite »
China's factory, retail sectors skid as COVID hits growthChina's economy lost more steam in November as factory output slowed and retail sales extended declines, both missing forecasts and clocking their worst readings in six months, hobbled by surging COVID-19 cases and widespread virus curbs.
Lire la suite »
China scales down pandemic reporting as it ditches 'zero COVID' policiesChina acknowledged Wednesday that it can't keep track of COVID-19 cases a week after rolling back its draconian 'zero COVID' policies that have been in place since the onset of the pandemic.
Lire la suite »
China faces surge in infections as retreat from 'zero-Covid' turns chaoticThere are increasing signs of a healthcare crisis as the country changes its Covid policy: with long queues outside fever clinics and panic buying across the country.
Lire la suite »