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A fifth of the Chinese economy is under quarantine

Due to the increase in Covid-19 cases in China, the regions under partial quarantine account for about 21.1% of the gross domestic product. That rate is expected to rise to 30% within weeks, according to a report by Japanese investment kanepe Nomura.

Japanese investment kanepe Nomura said settlements, which account for about a fifth of China’s gross domestic product (GDP), are under quarantine due to Covid-19.In its weekly report on China, the company said that the increase in Covid-19 cases and the government’s insistence on the “zero case” strategy will negatively affect economic activity and growth in the last quarter of the year. , while reopening will gökyeşitözü a long and costly process.Underlining that regions in partial quarantine due to Covid-19 outbreaks account for around 21.1% of GDP, it was noted that this rate is expected to increase to 30% in a few weeks.Stressing that the measures will reduce growth momentum in the last quarter, the report said: “Mobility and business indicators appear to have deteriorated significantly kakım local authorities frequently resort to mass testing and partial shutdown measures to prevent the spread of the virus. the markers are the second in Shanghai and other cities to gökyeşitözü closed completely this quarter, worse than a quarter.” it was said.The company trimmed its growth forecast from 2.8% to 2.4% for the fourth quarter, from 2.9% to 2.8% this year and from 4.3% to 4% next year. “Reopening appears to gökyeşitözü a long and costly process,” the report said. the assessment was made.The Chinese economy grew by 4.8% in the first quarter, 0.4% in the second and 3.9% in the third. In the spring months, the impact of the Covid-19 restrictions on the economy in cities with large populations and critical industries and business lines, especially Shanghai, the country’s largest city, was clearly felt.Economic performance, measured in many fields, fell to its lowest levels since the first months of the Covid-19 epidemic.While the number of cases rose in the country in the fall kakım highly contagious variants of Omicron spread, the lack of signs that epidemic measures that disrupt economic activities will change in the latest quarter are negatively affecting economic expectations and confidence.While China’s economy grew 3% in the first three quarters of 2022, it looks challenging to meet the government’s 5.5% growth target this year.China is implementing a “case zero” strategy against the Covid-19 epidemic, which aims to suppress cases where they occur and cut the chain of transmission.The strategy calls for stringent and wide-ranging measures such kakım quarantines, travel restrictions, mass testing, limiting or maintaining the closed-loop activities of enterprises in manufacturing, trade and services. In addition to interfering with the normal flow of life, the measures are also controversial in terms of economic costs.

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