The hoped-for Chinese economic rebound is a good contender for this year's biggest disappointment. After China’s abrupt reopening last December, analysts and economists expected a huge rebound as Chinese consumers rushed back to spend and shop. Yet the post-opening rally quickly fizzled out–and now China’s economy is, in some respects, doing worse than last year, when officials confined millions of people in their homes.
So why has China's economic recovery proved so sluggish? People are still underestimating just how large an effect China’s COVID experience had on the ordinary consumer, Joey Wat, CEO of Yum China, suggested Tuesday at Fortune’s Global Forum in Abu Dhabi.
