Forbes on Nostr: The Missing Factor In Explanations Of China’s Economic Distress: Covid (Part 1: The ...
The Missing Factor In Explanations Of China’s Economic Distress: Covid (Part 1: The Cover-Up)
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The Chinese economy is showing signs of weakness, with actual growth below official figures, substantial deflation, an unstable housing market, and falling domestic stock markets. The impact of Covid-19 is a missing factor in explanations of China's economic distress. China pursued a 'zero-Covid' policy for almost three years, which included aggressive contact tracing, mass testing, border shutdowns, internal quarantine programs, and lockdowns of entire cities. The economic damage was significant, with consumption patterns disrupted and supply chains breaking down. China's official GDP growth figures diverge from estimates by the International Monetary Fund (IMF), which show a decline in real GDP from 2021 to 2023. Western economists focus on usual economic drivers, but the severe public health policy response to Covid-19 in China has had a significant impact on the economy. The Chinese government concealed the reality of the pandemic to defend the Communist Party's reputation, leading to a lack of sound information about the true impact of Covid-19 in China. The Chinese government actively suppressed and manipulated data, resulting in gaps and discrepancies in the official statistics. The official Covid-19 mortality figures in China are implausibly low, and the reported infection and mortality rates are significantly different from comparable countries. The case-fatality rate (CFR) in China is much lower than in other countries, indicating data tampering. The true impact of Covid-19 on China's public health and economy is much worse than portrayed in official statistics.
#China #EconomicDistress #Covid19 #ZerocovidPolicy #GdpGrowth #DataManipulation
https://www.forbes.com/sites/georgecalhoun/2024/05/04/the-missing-factor-in-explanations-of-chinas-economic-distress-covid-part-1-the-cover-up/
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The Chinese economy is showing signs of weakness, with actual growth below official figures, substantial deflation, an unstable housing market, and falling domestic stock markets. The impact of Covid-19 is a missing factor in explanations of China's economic distress. China pursued a 'zero-Covid' policy for almost three years, which included aggressive contact tracing, mass testing, border shutdowns, internal quarantine programs, and lockdowns of entire cities. The economic damage was significant, with consumption patterns disrupted and supply chains breaking down. China's official GDP growth figures diverge from estimates by the International Monetary Fund (IMF), which show a decline in real GDP from 2021 to 2023. Western economists focus on usual economic drivers, but the severe public health policy response to Covid-19 in China has had a significant impact on the economy. The Chinese government concealed the reality of the pandemic to defend the Communist Party's reputation, leading to a lack of sound information about the true impact of Covid-19 in China. The Chinese government actively suppressed and manipulated data, resulting in gaps and discrepancies in the official statistics. The official Covid-19 mortality figures in China are implausibly low, and the reported infection and mortality rates are significantly different from comparable countries. The case-fatality rate (CFR) in China is much lower than in other countries, indicating data tampering. The true impact of Covid-19 on China's public health and economy is much worse than portrayed in official statistics.
#China #EconomicDistress #Covid19 #ZerocovidPolicy #GdpGrowth #DataManipulation
https://www.forbes.com/sites/georgecalhoun/2024/05/04/the-missing-factor-in-explanations-of-chinas-economic-distress-covid-part-1-the-cover-up/