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The Delta variant is just one of the clouds hanging over China s economy
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The Delta variant is just one of the clouds hanging over China s economy
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The Delta variant is just one of the clouds hanging over China s economy
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China’s broadest Covid-19 outbreak since the beginning of the pandemic in late 2019 is hampering tourism and spending during the peak summer holiday, prompting analysts to review their economic growth projections as risks escalate.
Authorities rushed to close tourist sites, call off cultural events and cancel flights, as the outbreak linked to the highly-infectious delta variant spread to nearly half of China’s 32 provinces within just two weeks. At least 46 cities have advised residents to refrain from traveling unless it’s absolutely necessary.
Alongside recent flood damage in parts of the country, the latest virus controls will likely curb retail spending and economic growth in the second half of the year.
China’s economic rebound under threat from Delta outbreak
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By Bloomberg News
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China’s broadest Covid-19 outbreak since the beginning of the pandemic in late 2019 is hampering tourism and spending during the peak summer holiday, adding another risk to the economy just as consumption was picking up.
Authorities rushed to close tourist sites, call off cultural events and cancel flights, as the outbreak linked to the highly-infectious Delta variant spread to nearly half of China’s 32 provinces within just two weeks. At least 46 cities have advised residents to refrain from travelling unless it’s absolutely necessary, according to Chinese media reports.