Posted on 11/24/2022 11:33:11 PM PST by nickcarraway
China's GDP growth expected to drop by five percent in 2022 from 2021
China needs a "recalibration" of its zero-COVID strategy in order to bring the world's second-largest economy back on track, as the Yuan plummets and threat of a recession looms, one senior official with the International Monetary Fund (IMF) urged Wednesday.
Concerns over a global recession increased following reports last month that China’s goal of hitting 5.5% GDP growth in 2022 was far from attainable and would likely top at 3.2%, with some suggesting it could be as low as 2.8% – a drop from 8.1% GDP growth in 2021.
"Under the zero-COVID strategy, China weathered the initial impact of the pandemic well, allowing the economy to recover swiftly from the early-2020 lockdowns," IMF's First Deputy Managing Director Gita Gopinath said in a statement released Wednesday.
(Excerpt) Read more at foxbusiness.com ...
A change of policy would be perceived (correctly!) as a sign of weakness, which in an honor culture would lead to hari-kari.
Xi is not about to admit error much less fall on his sword.
Well, hari-kari isn’t exactly a Chinese tradition.
IMF needs to *uck off.
[That’s what Xi said.]
heh
There has to a Chinese equivalent.
At this point, the ChiComs’ “zero covid” strategy only makes any sort of sense if they know some things about the virus that the rest of the world doesn’t know.
Does anyone else wonder if China is less concerned with internal covid spread than with employing a Round 2 attempt to shackle a world economy that is bouncing back in spite of China’s protracted 2-year Round 1 ‘shutdown’?
No, how about we help them kill it? Let’s stop commerce with China. The sooner they collapse, the sooner we can contain them. Then, let’s send all Chinese home to fix the cesspool mess.
YOu are 100% correct.
Face is the weakness of the Commie Regime.
One that can be exploited by a President Trump.
But Brandon and his lefty traitors in charge can’t work at that level.
Zero Covid is unrealistic.
We need new cell phones- Turn the machines back on!
Whatever one thinks of China it has never and will never need to go to the IMF for a bailout. Which is more than can be said of Gret Britain.
Must be nice for Xi to tell the IMF to bugger off.
Iiiiiiiiiiiiiii say to China drop your zero covid policy so I can get back to cheap tickets to Thailand!!!
Why should it be desirable for China to grow faster than the 3% rate?
Shouldn’t China instead be commended for limiting its growth, thereby reducing the increase in CO2 emissions and the exploitation of raw materials producing countries?
I’m confused.
CoupFlu has NEVER been about public health anywhere on the planet.
Gifts of rental property in Macau to Western politicians is a worthless gesture, if Macau is never open. Then again, keeping Macau closed is good punishment to those Western politicians who have already received Macau rental property, and do things that pi$$off the CCP.
XI humiliated Trudeau in Bali which then sent Trudeau scurrying out of sight. China is in charge..everything else is just bluster
Any growth in the Chinese economy in excess of 0 is a hoax, bogus, falderal.
Aside from the covid problem (no vaccine and never ending new cases) China is experiencing serious economic decline.
China has no local taxes and the local governments rely on sales of land to support municipal fiscal needs. Development has completely ceased and there are no municipal property sales. There is thus no money to support the vast municipal bureaucracies. There is no solution to the problem
Municipal doom!
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