An overnight tweet from China Beige Book pretty much nails the malaise in China's rolling lockdown economy.
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China's internal health policy is no one's business but China's. I am sure authorities in the country see sound reasons to maintain their 'zero' policy and judge all the economic costs as being worth it.
China's state media play down the economic damage. They are incorrect. For those of us outside China its best take a clear-eyed view of the economic costs. Global supply chain issues are easing, but more slowly than would be the case otherwise. China domestic economic growth is weak, slowing down the take up of imports into the country. The risk of a slowing global economy remains ever-present.
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China Beige Book is most noted for its economic reports on China. It adapts methodology used by the U.S. Federal Reserve's "Beige Book"
- and issues a quarterly report
- uses quantitative & qualitative data to track conditions within the Chinese economy
Its observations on China's economy are well worth having regard to.
