CORONA AGAIN - LOCKDOWN INITIATED
Chinese health experts argue that taking swift, severe action to eradicate the virus is preferable and less expensive than waging a protracted, fruitless war. A zero-Covid policy, according to them, keeps the medical system from being overworked. Therefore, limits are being imposed and mass testing is being intensified in most cities where the new Covid types are found. Those found to have Covid-19 are quarantined or placed in home isolation. In several cities, businesses have stopped operating and schools have been closed. Shops are also closed.
The world's largest iphone manufacturing facility in Zhengzhou recently experienced conflicts between employees and security officials after being shut down for weeks under stringent regulations designed to stop an outbreak of Covid. The economy is being negatively impacted by the severe cut to factory output across the nation. The fourth quarter of China's economy is predicted to contract by 0.3% from the third. Brokerage Nomura reduced its estimate of China's fourth-quarter GDP to 2.4% from 2.8% year over year. Stocks in china are falling.