Concerns about a slump in the Chinese economy are growing.
(Photo: dpa)
Beijing The ongoing corona lockdowns in China are causing local business in European companies to collapse. This is shown by a quick poll by the European Chamber of Commerce in China. Chamber President Jörg Wuttke says the data paints a “gloomy picture”. He warns: “The economy is collapsing.”
45 cities in China are now fully or partially under lockdown. They directly or indirectly account for 40 percent of China’s economic output. The economic and financial metropolis of Shanghai has been largely sealed off for five weeks – there is no end in sight.
The Chinese government wants to use the strict measures to get the biggest corona wave under control since the pandemic first broke out in Wuhan. But the side effects of this strict zero-Covid strategy are becoming increasingly visible.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue