Corona has created a ruckus in China. Amid the epidemic, China seems to be caught in a crisis. China seems to be indecisive about the question of whether to focus on economic reforms or to emphasize on Covid control. If China re-implements the 'Zero-Covid' policy to prevent damage from coming Covid waves, its economy will be adversely affected. Apart from this, if China implements the 'Zero-Covid' policy, then people's lives can be in danger. Now in such a situation, it would not be wrong to say that China is facing the double whammy of Covid infection and economic crisis.
China's growth rate expected to decline
Businesses and industries in China are facing losses due to the ever-increasing infection of Corona, as well as facing a partial recession. In some reports, such claims are also being made that, in the coming days, there is a possibility of more than one million deaths due to Covid infection in China. Meanwhile, the Chinese government seems to be struggling to get the ban imposed because of the negative impact on the country's economy. Economic experts have forecast China's economic growth this year to slow down to 2.8 to 3.2 percent, the slowest in five decades.
Estimates of three waves of Covid
Let us tell you that recently, for the first time, China has officially accepted the death due to Covid. Such claims are also being made in many reports that one has to wait for hours to cremate the dead bodies. Even now the situation is such that health workers are also getting infected with the coronavirus. The Institute of Health Metrics and Evaluation (IHME) forecasts more than one million deaths next year, while a third of China's population is expected to be Covid-positive by April 1, reports InsideOver. Beijing has warned of three new waves of Covid infections in the coming months. Wu Junyao, the chief epidemiologist at the Chinese Center for Disease Control and Prevention, said three consecutive waves are expected by March 2023.
working continuously
"We cremated 150 bodies (in one day), several times more than a normal day last winter," said an employee at the Beijing Dongjiao Funeral Home. Another employee of Tongzhou Funeral Home said that the number of bodies burning due to corona has increased "We are burning bodies from morning till 10 pm.
blow to the economy
A few weeks ago, people took to the streets to protest against the 'Zero Covid' policy in different cities in China and there were widespread demonstrations in the country. The 'Zero Covid' policy has failed to contain Covid infections, and it has also dealt a severe blow to China's economy, reports InsideOver. Retail sales declined by 5.9 percent, while property investment slowed by 19 percent, and industrial production and fixed asset investment slowed to 2.2 percent and 5.3 percent. The sudden shutdown of factories even as the recession hit small businesses, including restaurants, causing huge losses. The unemployment rate has reached 5.7 percent, while it has risen to 17.1 percent for youth aged 16 to 24.
The economy is not expected to improve soon
Earlier, analysts warned Beijing that its Zero COVID' policy was hurting its economy and jobs in China. Wang Zhe, the senior economist at Caixin Insight Group, said, "Some companies affected by the drop in demand laid off workers on lower wages." Now, even though Beijing has abandoned the 'Zero Covid' policy, it is not expected to revive the economy anytime soon. Rather it will get worse.
'Possibility of recession in 2023'
"I expect a large decline in industrial production in December," said Alicia Garcia-Herrero, chief economist for Asia-Pacific at Natixis. A report by the World Economics Sales Managers Survey predicts a recession in China in 2023. The report states that "(the Chinese economy) may move towards recession in 2023."
Hanuman Jayanti: Baba Mahakal appeared in the form of Hanuman in Bhasmarti, makeup was done with hemp and dry fruits.
In the world-famous Shri Mahakaleshwar temple today, on the full moon day of Chaitra Shukla Paksha, during the Bhasma Aarti, Pandey priest worshiped the idols of God installed in the sanctum sanctorum
Delhi Excise Policy: Sisodia destroyed mobiles before the raid. CBI took action based on these six points
Delhi's Deputy Chief Minister Manish Sisodia has been arrested by the CBI on Sunday after nearly 8 hours of questioning. Deputy CM Sisodia has been arrested in Delhi's excise policy scam. The CBI will
Kane Williamson: ICC Test Rankings Kane Williamson becomes the number one batsman, Steve Smith in second place just one point behind
There has been a shocking change in the latest ICC Test rankings. Kane Williamson, who was sidelined with a shoulder injury in the first match of IPL 2023, has become the world's top Test batsman.
Biden told Putin - Ukraine will never be able to win: Russia's army is merciless and brutal; Rape of women was used as a weapon
US President Joe Biden responded strongly to Russian President Vladimir Putin's statements on the Ukraine war. Biden said late Tuesday in Poland that America and NATO were and will remain with
Need to rethink UNSC, India should get bigger role - Liz Truss
Former British Prime Minister Liz Truss said on Friday that the UN Security Council needs to be reconsidered. The current structure is not working, he said. Along with this, he supported India's
IPL 2023: Sourav Ganguly returns to Delhi Capitals, franchise gives this big responsibility to former BCCI president
Former India captain and former BCCI president Sourav Ganguly have once again joined hands with Delhi Capitals. The franchise has given him a bigger position this time. Ganguly will be the director of
IND vs BAN: India-Bangladesh clashed four times in the World Cup; the First match between the two on Indian soil since 1998
The 17th match of the World Cup 2023 will be played between India and Bangladesh today at the Maharashtra Cricket Association Stadium in Pune. While the Bangladesh team will try to make a comeback
International Friendship Day 2023: Why and how International Friendship Day started? know history
International Friendship Day 2023: Your relationship with parents and family gets linked with birth. But friendship is such a relationship, which people make with themselves for the first time. This
Covid-19 Update: Decrease in corona cases, 134 new cases were found in 24 hours; Know the positivity rate
The faster the cases of the corona were increasing in the country, the faster they are decreasing. After the arrival of 134 new cases of coronavirus infection in the country within the last 24 hours,
CSK vs LSG: 'We lost not because of our weakness', Ruturaj Gaikwad, find out who was blamed for the defeat
Chennai Super Kings suffered a 6-wicket defeat with 3 balls remaining at the hands of Lucknow Supergiants in the 39th match of IPL 2024 on Tuesday. CSK's record on