Global RiskNews Briefs

China’s President Xi Jinping vows to ‘minimize’ the economic impact of Covid spike

The President of China has signaled that his focus is on containing the collateral damage of the resurgence of COVID-19 in China. His focus is on the economic and social development of the country. 

The surge in China is the biggest surge since the first outbreak in 2020. Stringent measures have been imposed to control the spread of the virus and tens of millions of people have been placed under differing types of lockdowns. Businesses have closed and travel has been restricted in major industrial hubs. Economists predict these measures to have a cost on China’s economy, including potentially reducing China’s GDP by 1 percentage point. 

Read more: China’s President Xi Jinping vows to ‘minimize’ the economic impact of Covid spike

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