China fights itself to an economic standstill

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It’s not going well in China:

The last time a top Chinese leader impromptu addressed thousands of officials in February 2020, President Xi Jinping called for a “people’s war” against Covid-19 at the outset of the pandemic.

On Wednesday, Premier Li Keqiang held a similarly rare video call with thousands of cadres across the nation to warn of an even worse economic crisis than two years ago, calling on them to better balance Covid controls and economic growth.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.