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Despite China’s announcement last week of a partial relaxation of Covid restrictions, its restrictions remain among the harshest in the world. TS Lombard believes that zero Covid “will be here for at least 6-9 months”. And this policy will “hit consumption, property and stimulus efficacy”, hampering the nation’s economic recovery.
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- China is experiencing what could prove an economically devastating wave of the Omicron subvariant BA.5.
- Despite starting on the slow track to reopening, zero Covid will be here for at least 6-9 months.
- Hit to consumption, property and stimulus efficacy makes for a very sluggish recovery.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.