When even an acknowledged China bull like strategic analyst Shaun Rein turns negative on its short-term economic development, things do not look well for the middle kingdom. “Consumer confidence has brutally collapsed and I think investors need to think twice or maybe even three or four times before investing in China right now,” says Rein in the Economic Times.
Global companies have been warning of the major effects of China’s lockdown on their operations, curtailing Shanghai for more than six weeks. But they have very few alternatives apart from sitting out the ordeal, says Shanghai-based business analyst Ben Cavender to CNN. The corporate exodus from Russia after the invasion of Ukraine did not help. For sure, consumption in China is down.
Just as the 2022 Olympic Winter Games in Beijing ended, China’s media started to suggest the country is planning beyond the strict zero-covid policies later in the year. International travel has been virtually dead since early 2020, and many – including the China Speakers Bureau – have been waiting for a change in this policy.
How will people remember the Wuhan lockdown, two years ago at the start of the global coronavirus crisis, asks CFR-scholar Ian Johnson in a debate at the NYU’s Institute for Public Knowledge on the book “The Wuhan Lockdown”, by Yang Guobin. How successful has the state been in suppressing the knowledge of this hiccup in communist rule in Wuhan, Ian Johnson asks the author.