China’s GDP may decrease if China continues COVID-19 lockdown

Beijing, China): China’s gross domestic product (GDP) growth could see a drop of 1-2 per cent if Beijing, to fight the COVID-19 outbreak, which is the highest in the past two years, continues to lock down large parts of the country. keeps.

China is reporting the most coronavirus outbreak in the past two years, with more than 1,400 new coronavirus cases per day and Chinese officials struggling to deal with the worsening situation.

Most of the new localized cases have been reported from eastern provinces such as Jilin (as Changchun epicenter), Guangdong (as Shenzhen epicenter), Shandong and Shaanxi. Some districts in Jiangsu province have announced monetary rewards of up to 10,000 yuan for reporting violations of coronavirus rules.

To control the situation, Chinese authorities have approved the Rapid Antigen Test (RATS) for use by its citizens, abandoning their earlier resistance to Western practice. More than 300 medical workers have also been sent to Hong Kong to assist the local administration to control the ongoing pandemic.

Beijing may consider a lockdown of large parts of China if local restrictions and measures fail. However, the lockdown will curb domestic economic activity, slowing exports, disrupting global supply chains and reducing China’s GDP growth by 1-2 per cent.

Even before this, the impact of the recession in Shenzhen port in May-June 2021 was wider than the closure of the Suez Canal. (ANI)

First published:March 16, 2022, 7:43 pm

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