Since the beginning of the epidemic, China, the world's second-largest economy, has adopted a zero-tolerance policy. In other words, they will not allow the infection to spread in any way. But two years have passed since the epidemic. In this context, the International Monetary Fund (IMF) says it is time to review the policy. Otherwise, China's tough policy will hurt the world's economic recovery.
The head of the IMF, Kristalina Georgia, said the new strain of coronavirus had been shown to be less harmful than the omicron delta. As a result, China should now relax its strict sanctions. He was speaking at a virtual conference of the World Economic Forum. Strict restrictions are being imposed in the cities or regions of China where the infection is on the rise. These restrictions have now become a burden on the economies of China and other countries in the world.
In early January, the Chinese National Health Commission said it had detected eight new infections in China's Henan province. Since then, millions of people have been placed under strict restrictions. In the last few weeks, several more provinces have been brought under strict restrictions. Georgia added that China's economic growth has been relatively slow due to the epidemic. If new restrictions are imposed on it, it will also have a negative impact on consumer spending.
Inflation has been high around the world for over a year now, largely due to rising freight rates worldwide. This situation is deteriorating further due to strict restrictions in the country.
The head of the IMF said, China still adheres to the zero-sum policy. But Covid has taught us all that cracking down on the highly contagious type of Covid will have a big impact on the economy. Meanwhile, China has already withdrawn various financial incentive projects. Georgia criticized the Chinese government for that. He said the Chinese economy still needed government support. Assistance should not have been withdrawn so quickly. China's central bank should keep interest rates low and the government should continue subsidies.
Earlier this week, the People's Bank of China cut interest rates.
A new type of coronavirus, Omicron, has spread around the world. All countries in the world are now accustomed to living with coronavirus. There are questions about how long China will adhere to the zero-quid policy. Discussion-criticism has started. China still maintains strict border restrictions.
Ben Dowling, an epidemiologist at the University of Hong Kong, said the emissions had become a bigger threat to the Covid policy than any other. This is because it is highly contagious, spreading at twice or three times the speed of a delta; However, China also has the capability to control this infection.
As a strategic partner of the DSE, the Chinese alliance promised to provide various technical and financial assistance for the development of the stock market. These promises are also mentioned in the agreement between the two parties. The BS EC, wanted to know about the progress of those proposals. In the letter, the Chinese alliance offered some technical and financial assistance in the form of value addition, the letter said. A letter from the BS EC, asked them to submit an assessment report on the implementation of these proposals to the BS EC, within seven working days. This instruction was given to the managing director of DSE.
Earlier, the BSE C, directed the two stock exchanges to take initiative to bring the shares of the two stock exchanges of the country to the stock market quickly. The roadmap for this was prepared and submitted to BSE C, till January 10. It is learned that the two stock exchanges have applied to the regulatory body for time to submit the final roadmap on the issue of shares.
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