These limits on movement are wreaking economic havoc. Even before the worst restrictions were imposed, retail sales shrank by 3.5% year-on-year in March , according to figures released on April 18th. Catering services fell by more than 16%. Unemployment in China’s 31 biggest cities is now 6%, higher than in 2020, points out Zhang Zhiwei of Pinpoint Asset Management. Overall GDP grew surprisingly fast in the first quarter, by 4.8% compared with a year earlier.
What is holding the PBoC back? It says it will “refrain from a deluge of strong stimulus policies” and “strike a balance between internal and external equilibria”. It may worry that the monetary easing required to preserve growth within China would jeopardise the country’s external balance with the rest of the world. In particular the PBoC may fear that capital would flee if it cut interest rates too boldly at a time when America’s Federal Reserve is raising rates sharply.
Despite these bean-counting intrusions, local governments probably have enough money as a group, according to Hui Shan of Goldman Sachs, another bank. They have carried over unspent funds from last year and received additional transfers from the central government. But the money is not evenly spread. "Some provinces have projects but no money, others have money, but no projects," she says.
Wonder if they regret creating this virus. Doubt it.
Dr. Luc Montagnier reveals how Covid-19 is a lab accident He was awarded the 2008 Nobel Prize in Medicine for the identification AIDS.
It’s gonna be one or the other. I think most countries figured that out already. Whether it’s popular or not, everyone else knows that hurting the economy hurts ppl too.
Do you believe China has gone overboard with its handling of the virus?
China current growth is in the positive..plus 4%, the world's first is almost in recession..
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China knows that covid is endemic. This is all for their agenda.
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Karma strikes back.What China gave to world is coming back to Haunt them.Out of Greed They made money with people suffering misery & laughed at Coronas deaths of nations in shameless way. Now China getting ruined ,their own people suffering dying ,economy ruined loses, downfall
When/where in China has the govt bowed to the wishes of its citizens If the Chinese govt wants all to be vaccinated,so be it. Any resistance to a Chinese govt order will result in jail&God knows what else🙄 So if the govt wants its citizens 2be vaccinated they'll b vaccinated
It's terrible
ridiculous china