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Covid in China: Shanghai Cases hit record

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Shanghai is facing China’s worst Covid -19 outbreak. Shanghai reported over 27,000 coronavirus cases on Thursday. Shanghai, home to 25 million residents is fighting the worst omicron wave, as the bulk is still in lockdown for weeks.
“Eight of the severe cases are older people aged between 70 and 93, the commission said, adding that all of them had high-risk factors such as serious underlying diseases, and none of them were vaccinated against Covid-19,” the official news agency, Xinhua reported.
During a visit to South China’s Hainan island, Xi, said that China must stick to its strict “dynamic COVID clearance” policy while the global pandemic remains very severe. There will be no change in the pandemic control measures approach,
he said.
“It is risky for Covid-19 patients who are asymptomatic to stay home instead of in centralised quarantine, as they might cause further transmission and miss the optimal treatment period”.
The economic front viewpoint is gloomy ;
China, the world’s second-largest economy and the largest manufacturer, has been facing a rising risk of recession since mid-March. We believe global markets continue to underestimate the impact, likely owing to the majority of focus on the Russian-Ukraine conflict and US Fed rate hikes. In our opinion, the markets should also be concerned about the delayed spring planting of grain in China,” the Nomura financial services said in a note.

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