In his latest My Take, Stuart Varney discusses the devastating effects of China's zero COVID policy on the U.S. inflation, arguing that when China shuts down factories, they create a supply chain problem. STUART VARNEY: There is a country that still clings to a zero COVID policy, and that is China.
The 20 million people in China have been put under strict lock-down. And a COVID-free country.
China is the world's manufacturing capital. When they shut down factories there, they create a supply chain problem. He's staked his leadership on showing how China can manage COVID, while America can't have good luck with that.
China's vaccines are nowhere near as effective as those developed in the West and nobody has been able to shut down omicron completely.
Xi should accept that COVID is endemic, that we've got to live with it. He's locked into lockdowns. A reversal would mean a huge loss of face, and that's not good for China.
China goes the other way in a futile attempt to kill it off, just as we learn to live with COVID. It's like trying to eradicate the common cold. It's partly due to the fact that inflation lingers and it's partly their fault.