How China’s reopening will disrupt the world economy
• For the better part of three years—1,016 days to be exact—China will have been closed to the world. Most foreign students left the country at the start of the pandemic. Tourists have stopped visiting. Chinese scientists have stopped attending foreign conferences. Expat executives were barred from returning to their businesses in China. So when the country opens its borders on January 8th, abandoning the last remnants of its “zero-covid” policy, the renewal of commercial, intellectual and cultural contact will have huge consequences, mostly benign.
• First, however, there will be horror. Inside China, the virus is raging. Tens of millions of people are catching it every day . Hospitals are overwhelmed. Although the zero-covid policy saved many lives when it was introduced (at great cost to individual liberties), the government failed to prepare properly for its relaxation by stockpiling drugs, vaccinating more of the elderly and adopting robust protocols to decide which patients to treat where. Our modelling suggests that, if the virus spreads unchecked, some 1.5m Chinese will die in the coming months
Source : The Economist January 7th - 13th 2023 , Page 7