May 15, 2022
2 mins read

Xi’s ‘Zero-Covid policy’ hits Chinese economy

The stringent, frequent lockdowns continue to fuel public discontent while the Chinese economy is witnessing a heavy blow….reports Asian Lite News

Following the country’s most severe outbreaks, the Chinese premier Xi Jinping gave another blow to China’s already crippled economy as he doubled down on his ‘Zero-Covid policy’ in an attempt to contain the rising COVID-19 infections.

Xi’s renewed commitment to zero COVID highlights his willingness to deprioritize economic growth in favour of political and social issues that he considers more urgent, The Diplomat reported.

Xi Jinping has put his personal stamp on China’s zero-Covid strategy, with state media often reporting that he has “personally commanded and made arrangements” for the country’s fight against the pandemic.

The stringent, frequent lockdowns continue to fuel public discontent while the Chinese economy is witnessing a heavy blow.

: A citizen takes COVID-19 nucleic acid test at a mobile nucleic acid testing site in Hong Kong, south China, April 25, 2022.(Xinhua/Lo Ping Fai)

The initiatives where Xi has sacrificed growth have been facilitated by a clear socio-political rationale, strong stakeholder support, and a stable economy. But zero-covid is now increasingly unable to depend on such favorable conditions as the virus has become less deadly but more infectious, support for the policy has waned, and the health of China’s economy appears to be rapidly deteriorating.

If activity remains depressed over the next one or two quarters, the economic and social effects would start to be felt much more acutely, reported The Diplomat, citing local Chinese media reports.

It is precisely this sort of politically destabilizing scenario that Xi needs to avoid and that could ultimately force him to change direction on zero COVID.

In April, China’s services sector, which accounts for more than half of the nation’s GDP and over 40 per cent of its employment, contracted at the second sharpest pace on record, while the manufacturing sector also shrunk, reported CNN.

While Omicron spreads in other parts of China, more local governments are imposing swift lockdowns in response to just a handful of cases. Since April 20, Beijing has reported more than 500 cases. Many fear a Shanghai-style lockdown as authorities roll out increasingly restrictions. (ANI)

ALSO READ: Bilawal soothes China, compares slain Chinese teachers to his sisters

Previous Story

A new historic era

Next Story

NEW ERA IN THE UAE

Latest from -Top News

Texas flash floods kill at least 24; Trump vows help

President calls tragedy ‘shocking’ as search for missing continues overnight At least 24 people have died in Kerr County, Texas, after catastrophic flooding swept through the region, prompting a large-scale rescue and

UK MPs Slam Pakistan Over Minority Abuses

Minority communities such as Shias, Christians, Hindus, and Ahmadis continue to face harassment, violence, and intimidation. In many cases, law enforcement either turns a blind eye or enables the attacks through inaction…reports

Words Won’t Stop China, Quad Must Deliver

 If the Quad aims to counterbalance China’s growing influence, it must expand its focus beyond the maritime domain and address the continental dynamics of the Indo-Pacific…writes Imran Khurshid Despite early concerns that

India Stays Neutral on Dalai Lama Succession

As exiled Tibetan spiritual leader approaches his 90th birthday, he asserted on Wednesday that there will be the 15th reincarnation…reports Asian Lite News Responding to the Dalai Lama’s recent remarks, India on

USAID cut could kill 14 million more deaths

Human rights advocates and global health experts have expressed alarm at the speed and scale of the cuts…reports Asian Lite News A new study published in The Lancet has warned that ongoing
Go toTop

Don't Miss

NSA Doval, Chinese FM Wang Yi to Hold Talks

When asked about the SR talks, Chinese Foreign Ministry spokesman

China reiterates threats to Taiwan

The latest tensions were triggered last week by a visit