CHINA: World economic leaders, IMF Chief, on Friday praised China’s accomplishment of zero-tolerance Covid policies, saying “strong action” will help revive growth both at home and around the world.
The cuts will help boost the global economy struggling with the effects of the Covid and Russia’s invasion of Ukraine, the head of the World Trade Organization said after a conference in the city of Huangshan, New York East China. , which is welcomed by the outgoing Premier Li. Keqiang.
Beijing on Wednesday announced a relaxation of its zero-tolerance approach to the coronavirus, ending a major lockdown and allowing some positive cases to self-isolate at home following widespread protests over the restrictions.
IMF Chief says the achievement would revive growth both in the country
The decision showed that the world’s second largest economy is finally coming to terms with Covid after years of slow growth. International Monetary Fund Managing Director Kristalina said, “We welcome the strong actions taken by the Chinese authorities .. to revise the Covid policies to give a big boost to the restoration of growth in China.” other major economic institutions. Efforts to increase vaccination rates and antiretroviral therapy “are very good for the China, but also important for Asia and the rest of the world,” Georgieva added.
“China’s role is relevant (not only) for China
The global economy has been in turmoil this year, and the Russian invasion of Ukraine is adding to the recovery after the outbreak of the disease and the crisis of life in many countries. Zero-Covid “will help remove many uncertainties” in a world that is affected by the pandemic, the war in Ukraine and climate change, WTO Director General Ngozi Okonjo-Iweala said, in the same conversation.
The Secretary General of the Organization for Economic Co-operation and Development, Mathias Cormann said that “this reform will support the recovery power both in China and around the world.
” Beijing’s push back from zero-Covid has helped support global stock markets that fear a looming US recession, but analysts have warned that the path to fully opening up remains bleak.
Long criticized for disrupting trade and global supply chains, the Covid-19 pandemic has acted as a drag on China’s economy, with analysts expecting Beijing to miss its annual growth target of 5.5%.
Public frustration over rapid lockdowns and testing has risen in the past month as protesters have taken to the streets in cities across the country, with some asking for greater political freedoms. during most widespread protests since 1989.
China eased further restrictions on Friday, with culture and tourism officials announcing that visitors will no longer be required to show a “health code” when entering many places.
