Chinese authorities appeared to bend to the will of the people on Wednesday by easing some of the harshest COVID-19 restrictions, but a new study showed the high price the country will pay if it tries to reopen too fast.
Asian macroeconomic advisory firm, Wigram Capital Advisors, is warning of a “winter wave” of COVID infections that could swamp the healthcare system, according to a report in the Financial Times, which reviewed the firm’s models.
In addition, the Lunar New Year holiday in January could prove a super spreader event for China, Wigram warned. The easing comes after recent protests across major cities and in some industrial areas, such as Zhengzhou, the home of one of Apple’s AAPL, -1.38% biggest iPhone manufacturer. An International Monetary Fund official said Tuesday that the country’s economic outlook has “darkened noticeably,” due in part to lockdowns.
Both numbers were much weaker than analysts expected, as the government’s zero-COVID policies have weighed on the economy. For analysts and markets, a new realization may be forming around the global growth engine that investors have been so eager to see reopen.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China ETFs fall despite surging stocks in Hong Kong after reports Chinese COVID restrictions are easingShares of exchange-traded funds that buy Chinese stocks slip in late afternoon trading Monday, falling after the Hang Seng index in Hong Kong rallied 4.5% on...
Read more »
BEIJING BACKS DOWN: Chinese citizens 'empowered' after COVID protests, China researcher saysCOVID-19 protests across China resulted in officials easing restrictions, leading residents to feel empowered after years of 'draconian' laws
Read more »
China Relaxes Harshest Covid-19 Rules Following ProtestsChina reported over 25,000 new cases of covid-19 and zero deaths on Wednesday.
Read more »
Netflix's 'Wednesday' Slammed After Jenna Ortega Reveals She Shot Dance Scene While Sick with COVID'I felt like I'd been hit by a car and that a little goblin had been let loose in my throat and was scratching the walls of my esophagus,' Ortega recalled of filming the viral scene while sick.
Read more »
Jenna Ortega Says She Had COVID While Filming Iconic ‘Wednesday’ Dance SceneThe actress said she shot the scene while awaiting her COVID test results, that subsequently proved to be positive.
Read more »