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China: Lockdowns Will Save The Global Economy

The Global Times - which is a government run news anchor - has claimed that outsiders do not understand the draconian “dynamic zero covid” efforts imposed by the government. It also says that outsiders are not appreciating how these efforts can save the economy: by shutting down any semblance of normal life; locking down cities; shutting down factories, and disrupting global supply chains.

Image Credit: Gerd Altmann

“As China battles its worst COVID-19 [Chinese coronavirus] outbreak since 2020, its zero-COVID strategy has been repeatedly accused of undermining the global economy. It is a short-sighted viewpoint that will, ultimately, add more uncertainty to the global economic recovery,” according to the Global Times.

“Some of them are just trying to smear, denigrate and undermine China. Whoever bets that China is at risk of a self-inflicted recession will suffer the consequences of their mistakes,” said the global times, dismissing critics.

Instead of justifying why the government's measures were necessary and effective, inflation in Western countries was used as evidence to argue that China’s situation was not at all bad.

“We are confident that as the epidemic is gradually brought under control, economic activities will return to normal in the rest of the year. China has set a growth target of around 5.5 percent for the Chinese economy this year. A 5.5-percent growth means China will still be one of the biggest, if not the biggest, drivers of global economic growth.”

“By contrast, some Western countries that have failed to curb the COVID-19 outbreak have become major trouble-makers for the global economy. In April, US consumer prices rose at an annual pace of 8.3 percent, staying at a nearly four-decade high. The US’ sky-high inflation and its drastic monetary policy to tame surging prices pose the real risk for the global economy.”

“If China adopts Western-style anti-epidemic measures, its economy will suffer more from inflation and a series of other problems, including unexpected ones.”

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