Connect with us

Hi, what are you looking for?

Economy

Growing hum in China – the great president plays his office

Growing hum in China - the great president plays his office

It is growing among the Chinese common people Dissatisfaction Against the zero-Covid policy that completely paralyzes countries and limits the economy. Indeed, President Hsei seems to understand that a quarantine and lockdown against the highly contagious Omikron will only lead to catastrophic economic and social sacrifices. For now, the system is still in place, with authorities suspending the social media accounts of analysts who expressed a negative view of the economy.

With old weapons against the new enemy

Beijing yesterday 39 new local cases of COVID mentioned during the past 24 hours. The capital is doing everything it can to avoid a harsh lockdown: it is closing train stations, banning restaurant meals and conducting mass testing in key areas.

A major lockdown due to the pandemic is not good for the country. Photo: MTI/AP

Everyone feels the importance of avoiding the Shanghai-like chaos of the capital. Titled “Shanghai Fights Old Weapons with a New Enemy of Covid” Back China’s “Caixinglobal” business paper, explicitly refers to the growing tension.

massive slowdown

Global companies have already felt the pain in the last quarter. Adidas’ first-quarter revenue fell 35% in China and 23% at Starbucks. China is slowing down at the wrong time for the global economy, at a time when markets are already very nervous about Fed austerity.

The current economic slowdown is only partly due to the pandemic. Another is the number of regulatory interventions in Chinese technology companies. No matter how much correction was necessary due to the abuse of a dominant position by individual firms, the nature and extent of the interventions are disproportionate. Indeed, President Xi was the brainchild of this policy, which has since led to the loss of millions of Chinese jobs.

See also  Index - Economy - MÁV has made another extraordinary announcement

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...

Tech

A dangerous application appeared in the Apple App Store disguised as a known program. 24.hu reported the Based on TechCrunch article. Dangerous app in...

World

Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Copyright © 2024 Campus Lately.