China’s stringent zero-Covid policy boomerangs–no sign that the economy is reviving

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<strong>As the world is now opening up, China, which until now was following a zero covid policy with several stringent restrictions, could have relook at its measures. The stringent measures have once again created uncertainty among its citizens leading to concerns that the economic recovery could take longer. The International Monetary Fund (IMF) has already warned that the stringent restrictions at this stage could be damaging for China. The easing of Covid 19 restrictions would bring much needed relief not only to its citizens but also to the global community.</strong></p>
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The <a href="https://www.scmp.com/economy/china-economy/article/3167369/chinas-zero-covid-policy-under-review-economic-pressure">South China Morning Post</a> said that multiple teams in China are studying how to improve the country’s anti-pandemic policies, as economic pressure from its zero-Covid approach intensifies.</p>
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<strong>Also read: <a href="https://www.indianarrative.com/economy-news/china-s-new-headache-creating-jobs-for-about-million-students-graduating-this-year-150490.html">China's new headache– creating jobs for about 10.76 million students graduating this year</a></strong></p>
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According to the news organization, Chinese Centre for Disease Control and Prevention’s chief epidemiologist Wu Zunyou said that improved control measures would differ from the current ‘dynamic clearing’ policy but China is unlikely to simply lift all restrictions as some Western countries have done. </p>
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Consumption failed to pick up during the week-long Lunar New Year season due to the Covid 19 induced restrictions created.</p>
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“China is still using a zero-Covid policy. But what Covid is teaching all of us is that a highly transmissible variant may be much more difficult to contain without a dramatic impact on the economy,” IMF chief Kristalina Georgieva earlier said at the World Economic Forum. She added that Beijing should reassess its policy especially since the Omicron variant is less severe than the previous ones.</p>