5 reasons China’s reopening is good news for the global economy
South China Morning PostJan 10, 2023
On Saturday, following intense scrutiny, China reported 60K deaths attributed to COVID since Dec. 8. The World Health Organization showed extreme concern that the country was underreporting after official reports only showed 36 deaths between Dec. 7 and Jan. 8.
The actual death toll likely exceeds the 59,938 reported by China because the number only accounts for the deaths that have occurred at medical facilities.
While criticism of China's abrupt reopening remains, the world is starting to see the benefits of having China back on the market. The reopening has encouraged Goldman Sachs and Morgan Stanley to increase China's GDP growth by 5 percent for 2023. People are returning to activities and to work, and that allows the PRC to better plan on wooing business investments and tourists.
Beijing's ability to exercise authoritarian rule over its people while keeping them "safe" has been tested. The result was a failure. The government botched reopening from the pandemic and exposed the PRC's lack of preparation when residents found themselves infected with the inability to locate or purchase the simplest of medications. China now finds itself in a humanitarian crisis with the world looking on.