Xi Jinping has taken a major gamble with the health of China’s population and its economy inThe success, or otherwise, of the decision to ease the harsh restrictions and the attempt to re-open China’s economy will also have implications beyond China’s borders.
There will be greater urgency in lifting vaccination rates, particularly among the elderly who have been most resistant to being vaccinated. China’s sharemarkets have been getting excited about the prospect of Xi Jinping walking back the policies.
Their excitement might be premature. Loosening the strict measures China imposed to control infection rates could see outbreaks on a scale that China’s healthcare system, with less than 60,000 intensive care beds, may not be able to cope with. Rising commodity prices might be good for Australia but not so good for Europe, the US or developing economies.There is likely to be continuing caution among businesses and their workers and consumers while they wait to see whether the new policies do lead to new and larger waves of infection with even larger impacts on factory production and supply chains.
Taking a risk by relaxing covid zero?!
It will mean 1m+ deaths (seniors who refuse vax). Which we won't hear about, so no worries.