China’s economic juggernaut hits a roadblock: Xi Jinping's inflexibility on the draconian 'zero COVID' lockdown policy.
The stories from Shanghai, a city of 25 million entering its fourth week of COVID-19 lockdown, have been harrowing.their movements monitored by pandemic police in white hazmat suits. Almost 300,000 people who’ve tested positive or had contact with someone positive have been forcibly moved to spartan quarantine centers.
The damage is impossible to estimate with any accuracy, but big enough that Premier Li Keqiang warned publicly last week that the economy faces “unexpected challenges and mounting downward pressures.” The government in Beijing hasn’t changed its official target of 5.5% growth for 2022, but economists say that number looks unattainable now.
That’s what has happened, at least tacitly, in the United States, where the Biden administration has relaxed its COVID recommendations in view of the diminished threat of fatalities.“Prevention and control work cannot be relaxed,” President Xi Jinping said last week. “Persistence is victory.” But Xi still faces a long-term economic challenge. His larger goal is to move China into the ranks of advanced high-income countries.
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