China Covid19
China's COVID-19 surge affecting factories and consumer market
Beijing: China's COVID-19 surge is troubling the economic state of the country, media reports said on Tuesday.
Since the world’s second largest economy drastically eased its Covid restrictions earlier this month, there has been no clear data on the extent of the virus’ spread on the national level. But several cities and provinces have said they were seeing tens of thousands of new cases per day, reports CNN.
The surge in cases has forced people to remain indoors.
The shops and restaurants have remained emptied over the past few days.
Factories and companies are also forced to shut down or cut production because of more workers getting sick, reports CNN.
“The number of people on the streets has dropped off sharply from already subdued levels across the country,” analysts were quoted as saying by CNN from Capital Economics in a research note last week. “That will be affecting demand.”
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
