When the coronavirus pandemic first struck china in 2020, it tampered with its economy, that’s yet to be recovered. China is facing a weaker growth and government stimulus that would interfere with its recovery. Weeks after the country plans to reopen after lockdown; it’s faced with another Covid-19 outbreak hitting most parts of the country hard.
For China, the main story is they see lights at the end of the tunnel, and the most affected economic sectors, like the watch market, seem to be recovering during this time. However, the outbreak re-emerges in some cities ease social curbs that have been active for months to eliminate transmission.
The country’s tolerance approach leaves it stuck between reopening and shutdowns, aiming at lingering economic pain. Economic experts predict that china wouldn’t meet its annual growth target if the virus spreads to more cities. The country’s lockdown had already tampered with the global supply chain and affected the operation of most global giants like Tesla Inc, Sony Group Corp., and watch brands like Rolex.
The country’s top pandemic control official, Sun Chunlan, urges Beijing, one of the cities with re-emerging cases of Covid-19, to take control of the outbreak soon. He says the city should create a conducive and healthy condition for its residents to embark on their daily routine. Shanghai also lifted its lockdown in June but later shut down most of its operations to conduct mass testing.
