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More market humour today:
On Monday, a rumor took hold that Shijiazhuang, a city 160 miles from Beijing, was to become a test case for China’s reopening, dismantling key parts of the Covid Zero regime.
But rather than jubilation that the policy’s incessant testing and disruptive lockdowns would be over, the speculation was met with fear by many in the city of 11 million. Parents kept their children home from school, shoppers stocked up on traditional Chinese medicine and people on the subway were few and far between.
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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.
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