Liberty Street Economics: Does China’s Zero Covid Strategy Mean Zero Economic Growth?

F E D E R A L   R E S E R V E   B A N K   o f   N E W  Y O R K LIBERTY STREET ECONOMICS   Does China's Zero Covid Strategy Mean Zero Economic Growth? Hunter Clark and Lawrence Lin   The Chinese government has followed a "zero covid strategy" (ZCS) ever since ending its first round of lockdowns in March/April 2020. While this strategy has been effective at maintaining low infection levels and strong manufacturing and export activity, its viability is being severely strained by the spread of increasingly infectious coronavirus variants. As a result, the authors find that there now appears to be a fundamental incompatibility between the ZCS and the government's economic growth objectives.   READ MORE

 

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