Don't expect China to ease its zero-COVID policy after the Beijing Olympics Beijing2022
CNBC that “given China’s zero-COVID policy and how they tend to shut down important ports and factories—that really increases disruption.” She added that the strategy “will have important ramifications for inflation and also central bank policy-making in the next couple of months.”
At the same time, it is hard to argue with the logic of Chen Long, the founder of Chinese research firm Plenum, who: “If they didn’t do preliminary lockdowns, then you’d have millions of cases in China, and then you’d have a worse supply-chain crisis.” In many ways, the COVID-19 pandemic has become a tug-of-war between saving lives and saving profits, says Radhika Desai of Canada-based think tank Geopolitical Economy Research Group. “If you look underneath the surface rhetoric and the gestures of our governments,” she says, “the most important priority for them has been to save capital assets.”
Desai warns against an over-reliance on vaccines as a way out the pandemic, given the inevitability of mutating variants and enormous vaccine inequity between rich and poor countries. In this light, she says, it is not for the world to ask when China will stop its zero-COVID policy. Instead: “I think we should ask when will we learn from China.”
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