China anti-virus curbs spur fears of global economic impact

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China anti-virus curbs spur fears of global economic impact
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BEIJING (AP) — More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is rising, the government said Tuesday, adding to pressure on officials who are trying to reduce economic damage by easing controls that confine millions of people to their homes.

On Tuesday, the government reported 28,127 cases found over the past 24 hours, including 25,902 with no symptoms. Almost one-third, or 9,022, were in Guangdong province, the heartland of export-oriented manufacturing adjacent to Hong Kong.

China is the world’s biggest trader and the top market for its Asian neighbors. Weakness in consumer or factory demand can hurt global producers of oil and other raw materials, computer chips and other industrial components, food and consumer goods. Restrictions that hamper activity at Chinese ports can disrupt global trade.

Chinese exports shrank by 0.7% in October after American and European consumer demand was depressed by unusually large interest rate increases by the Fed and other central banks to cool inflation that is at multi-decade highs.

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