+1-888-308-5802      . .

IMF: China's Covid-19 strategy to be calibrated to sustain recovery

Author : Pankaj Singh | Published Date : 2022-11-18 

IMF: China's Covid-19 strategy to be calibrated to sustain recovery

China's daily Covid-19 cases have reportedly increased this week as major cities struggled to control ongoing outbreaks without imposing the universal zero-Covid-19 restrictions that Beijing had earlier stated to be avoided.

Earlier this week, the number of new cases nationwide increased to 23,132, the biggest number of Covid cases since April, close to the highest record set during the worst of Shanghai's major outbreak earlier in 2022. Most of the COVID-19 outbreaks are occurring in some of the country's biggest cities.

Guangzhou's southern hub reported the highest record of 8,761 infections. The authorities have loosened restrictions in some of the previously-locked-down areas of two other districts while extending some bans in the downtown area of Haizhu.

Since last week, China's daily COVID-19 cases have more than doubled. Moreover, Beijing unveiled a number of changes to its zero-tolerance strategy. The changes were made to lessen the disruption caused by restrictions like sudden citywide lockdowns and nearly continual mass testing of residents.

Even as it increased hope that China might be considering a significant change in its pandemic response, state media and officials have rejected the notion that the policy changes signify a relaxation.

As reported by the International Monetary Fund (IMF) this week, China must adjust its zero-Covid-19 plan to sustain and balance the recovery of the second-largest economy in the world.

According to Professor Gita Gopinath, the IMF's first deputy managing director, inflation and weaker growth for China allow for additional support for vulnerable communities, which coupled with enhancing social safety nets would stimulate consumption.

Guangzhou has also drawn the attention of China's observers.  As a city of 19 million people, it has only implemented limited lockdowns in three districts while delaying the implementation of more severe and extensive measures even though the number of infections has increased.

Meanwhile, China’s capital, Beijing, reported an increase in cases the number of cases to 423. Meanwhile, more than 4,000 new cases were recorded in the city of Chongqing.

Source credit: https://www.straitstimes.com/asia/east-asia/imf-calibrating-china-s-covid-19-strategy-critical-to-sustaining-recovery

About Author

Pankaj Singh . .

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

U.S. posts robust economic growth in Q4 2022 amid rising borrowing costs

U.S. posts robust economic growth in Q4 2022 amid rising borrowing costs

Published Date: 2023-01-27         Author: Pankaj Singh

The U.S. economy reportedly expanded more rapidly than anticipated in Q4, but this likely overstates the country's health considering a measure of domestic demand that surged at its weakest pace in two and a half years, highlighting the impact of increased borrowing costs. The early fourth-qu... Read More>>

North Korea pledges to get its economy on track after COVID disruption

North Korea pledges to get its economy on track after COVID disruption

Published Date: 2023-01-20         Author: Pankaj Singh

North Korea has reportedly committed to revitalizing industrial output and returning the economy to ‘normalcy’ following the disruption created by the COVID-19 outbreak. As per reports, the Korean Central News Agency (KCNA) stated on Thursday that the principal responsibility of North... Read More>>

China’s outbound flight bookings remain low after reopening borders

China’s outbound flight bookings remain low after reopening borders

Published Date: 2023-01-13         Author: Pankaj Singh

China's outward airline bookings reportedly remained at only 15% of pre-pandemic numbers in the week following the announcement regarding the reopening of borders, despite a 192% increase from the same period last year, as per ForwardKeys, a well-known travel data firm Olivier Ponti, Vice Pre... Read More>>

© 2023 Fractovia. All Rights Reserved