Technical Analysis

China blames slowing economic recovery on COVID outbreaks

A spokesperson from China’s Statistics bureau with remarks after the data misses earlier:


  • Economic recovery slowed due to COVID flare-ups
  • will work to actively expand demand, stabilise employment and prices
  • will consolidate the foundation of economic recovery

I guess that first comment falls within what you’d expect the Stats folks to be looking at. But as for the second and third points, these policy matters would be for others?

This reminds of the denials of any changes in covid policy that were issued by China’s foreign affairs people a couple of weeks back. What would they have to do with domestic health policy? Since this, of course, we’ve had upper-echelon authorities making changes. The groupthink bureaucracy in China is stifling.

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