China's zero-COVID strategy undermining global economic recovery

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China's zero-COVID strategy undermining global economic recovery

As China battles its worst COVID 19 outbreak since 2020, its zero-COVID strategy has been accused of undermining the global economy. It is a short-sighted view that will add more uncertainty to the global economic recovery. As China strives to find the most effective way to save the most lives at the lowest cost, it is hard to assess the cost, but what is certain is that we will have to pay more if China continues to lie flat against the virus, as many countries have done. Western economists may have misunderstandings about China's zero-COVID strategy. The zero-COVID strategy does not mean zero infections. Its goal is to curtail the transmission at the lowest possible cost, so as to provide a powerful guarantee for people's lives and ensure economic activity returns to normal in the shortest possible time span. There is nodenying that COVID 19 outbreaks have caused economic volatility, but bringing it under control in the shortest time span can minimize economic costs. China reported a fall in new COVID 19 infections under the current dynamic zero-COVID strategy. Economic activity hit by the COVID 19 outbreaks will gradually return to normal levels after the introduction of measures to tackle logistics and other disruptions. The period of time will probably be shorter than that if China does not lie and let the virus spread unchecked. The critics of China's zero-COVID strategy are short-sighted. Some of them are trying to denigrate, denigrate and undermine China. Whoever bets that China is at risk of a self-inflicted recession will suffer the consequences of their mistakes. We should not be too concerned by the collapse theory of China, which resurfaces increasingly more frequently. China's GDP growth in the first quarter of 2022 is higher than that of many developed economies that have decided to coexist with the virus. Three years into the COVID 19 pandemic, the world is divided in its response to the virus. There are different countries that have adopted different strategies. Any measures a country adopts would bring short-term economic costs. Some Western media outlets push people to focus on the short-term impact of China's anti-epidemic measures, but they don't talk about the long-term benefits of the dynamic zero-COVID strategy. Economic activities will return to normal in the rest of the year as the epidemic is gradually brought under control. China has set a growth target of around 5.5 percent for the Chinese economy this year. A 5.5 percent growth means that China will still be one of the biggest, if not the biggest drivers of global economic growth. 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 went up at an annual pace of 8.3 percent, keeping it at a nearly four-decade high. The US economy is at risk due to the US's sky-high inflation and its drastic monetary policy to tame surging prices. If China adopts Western-style anti-epidemic measures, its economy will suffer more from inflation and a series of other problems, including unexpected ones. Dynamic Zero-COVID is the most suitable strategy for China to fight the disease and keep its economic overall stable. Time will prove that China can and will continue to play a positive role for the global economy, as China will continue to play a major positive role in the global economy.