Author Topic: China's dream of a smooth post-pandemic economic recovery has already turned into a nightmare  (Read 276 times)

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Offline kevindavis007

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China's plan for a swift post-pandemic revival looks likely to be scuppered by a growing number of red flags, including deflation and sputtering growth.

Beijing finally curtailed three years of harsh zero-COVID lockdowns late last year, but its economy has subsequently run into significant turbulence that's sparking alarm across the world.

Taken alone, headline figures still suggest robust growth, with the country's Gross Domestic Product likely to rise 7.3% in the second quarter, according to a Reuters poll.

But because that's a year-on-year comparison, the bar for expansion is still low. In July 2022, the government was still taking a zero-tolerance approach to COVID-19, limiting the country's economic output.

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"If we die, we want people to accept it. We're in a risky business, and we hope that if anything happens to us it will not delay the program. The conquest of space is worth the risk of life."

Gus Grissom