{"id":1456161,"date":"2022-04-28T07:14:40","date_gmt":"2022-04-28T11:14:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1456161"},"modified":"2022-04-28T07:14:44","modified_gmt":"2022-04-28T11:14:44","slug":"chinas-zero-covid-policies-pushing-economy-to-near-breaking-point","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-zero-covid-policies-pushing-economy-to-near-breaking-point\/","title":{"rendered":"China\u2019s \u201cZero-COVID\u201d Policies Pushing Economy to \u201cNear Breaking Point\u201d"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchinas-zero-covid-policies-pushing-economy-to-near-breaking-point%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1456161&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<section data-v-f313b7e6=\"\">\n<p>China&#8217;s mission to wipe out COVID-19 has left its economy in shambles. China&#8217;s economy is reeling as the nation continues its mission to wipe out COVID-19. <\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>The Yuan is weakening by the day, growth forecasts have been slashed, and the government has shifted into recovery mode.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\"><\/section>\n<section data-v-f313b7e6=\"\">\n<p>On Tuesday, Societe Generale analysts <a href=\"https:\/\/www.cnn.com\/2022\/04\/27\/economy\/china-xi-infrastructure-push-covid-lockdowns-intl-hnk\/index.html\">suggested<\/a> that the Chinese economy has been pushed to &#8220;near breaking point&#8221; as a result of the lockdowns, which have brought entire cities to a halt. <\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>This, in turn, has lead to supply chain issues, panic buying, and a general sense of uncertainty for those in China and around the world.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>As CNN <a href=\"https:\/\/www.cnn.com\/2022\/04\/27\/economy\/china-xi-infrastructure-push-covid-lockdowns-intl-hnk\/index.html\">reports<\/a>, investment banks have reduced their expectations for China&#8217;s economic growth, with the International Monetary Fund putting it at 4.4 percent, down from 4.8 percent and far below the Chinese government&#8217;s forecasted 5.5 percent.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>The Yuan has dropped to its lowest level since 2020, and the Chinese stock market is not faring much better, with tech stocks being among the hardest hit.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>Despite this, China has remained steadfast in its quest to achieve zero-COVID as more cities roll out massive testing and lockdown policies. <\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>In an attempt to fix the economy, Chinese president Xi Jinping announced during a meeting of the Central Committee for Financial and Economic Affairs that he plans to \u00a0go &#8220;all out&#8221; on domestic infrastructure spending.<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/04\/27\/chinas-xi-calls-for-another-infrastructure-push-as-covid-drags-on.html\">According<\/a> to CNBC, Lisheng Wang and a team at Goldman Sachs said that this &#8220;suggests to us that Chinese policymakers have been increasingly aware of the strong growth headwinds from Covid restrictions and continued property downturn, and thus becoming more determined to ramp up policy easing measures.&#8221;<\/p>\n<\/section>\n<section data-v-f313b7e6=\"\">\n<p>With COVID-19 continuing to wreak havoc on China&#8217;s major cities, it remains unclear how the proposed projects would jive with the nation&#8217;s strict public health policies.<\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>China&#8217;s mission to wipe out COVID-19 has left its economy in shambles. China&#8217;s economy is reeling as the nation continues its mission to wipe out COVID-19. The Yuan<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1456161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1456161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1456161"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1456161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1456161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1456161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1456161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}