China’s rapid reopening after years of COVID restrictions has shocked policymakers, businesses and health experts. The country is likely enduring millions of cases and thousands of deaths each day, with one official estimating that 90% of residents in one province had caught COVID.
But economists think that China might quickly get through its COVID wave and start growing its economy again after years of pandemic controls, like snap lockdowns and lengthy quarantines, dragged down the country’s GDP. Banks are also pointing to statements from Chinese policymakers that the government will focus on supporting the economy and scale back its crackdown on private tech companies to back up their more bullish predictions.
