China: Despite the cost to the economy, Xi Jinping closes on zero-govt

Prisons, mass screenings: Experts warn that China’s zero Govt policy is costly for the country’s economy. But since the official death toll is 5,000, Beijing is relying on the study.

In China, each new outbreak of Govt infection leads to free and systematic screening of residents.

In China, each new outbreak of Govt infection leads to free and systematic screening of residents.

REUTERS

Despite voices calling for the easing of sanctions in recent months, Chinese President Xi Jinping on Thursday called for the pursuit of a zero-sum Govt policy, and the New China Agency said it would “resolutely fight” anything that “questions” this strategy. Compared to epidemics in other parts of the world that have claimed millions of lives, the Communist Party celebrates its health policy as a testament to the superiority of its political system.

According to official figures, the strict zero Govt policy has allowed China to reduce its death toll to more than 5,000 since the outbreak. As soon as a case arises, the authorities impose strict control measures.

For more than a month, 25 million people in Shanghai have been under hiding after an outbreak of an epidemic, while the prison’s shadow hangs over the capital, Beijing. In the country, every new outbreak of Govt disease leads to free and systematic screening of residents, as well as the economy being shut down to varying degrees of punishment.

Fined logistics, underdeveloped

While some cities tend to generalize testing every 48 hours, the move has been extended to the entire country, with Bank Nomura warning that China’s growth could cost up to 2.3 points this year. From an economic point of view, this carries the risk of imposing “limited” benefits on “significant” logistics and population movements and penalties on “higher” costs, which Nomura warns could undermine growth.

The move comes as rating agency Fitch revised its growth forecast for China this year to 4.3% (up from 4.8 previously). China has set a growth target of “about 5.5%” this year, after 8.1% in 2021. Many economists suspect that the Asian giant will achieve its goal, the deteriorating health situation, the war in Ukraine and a real estate crisis, a booming sector at one time.

(AFP)

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