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China Recovery Set Back by Record Covid Outbreak as Lockdowns Spread

Widespread lockdowns imposed across China as authorities there struggled this week to contain the country’s largest Covid-19 outbreak threaten to again create uncertainty in global supply chains and dim the prospects for world economic growth. Beijing’s battle to contain the virus—including sharp restrictions on everyday life and commerce in cities from the major port city of Tianjin in the north to Guangzhou in the south—comes as economies elsewhere lose speed as central banks raise interest rates to beat back inflation. The heavy-handed and widely applied steps send a strong signal that the country and its leaders aren’t ready for a sustained reopening almost three years after the start of the pandemic and long after other major economies have dismantled almost all Covid controls.

The Wall Street Journal - November 24, 2022

View the full story here: https://www.wsj.com/articles/china-recovery-hopes-crushed-by-record-covid-outbreak-as-lockdowns-spread-11669276266