The lack of Chinese central government initiative to spur growth, keep unemployment in check and stabilise agricultural production suggests there is no easy way out of the crisis emanating from president Xi Jinping’s strict zero-Covid policy, the Financial Times reported.
Local officials were left grappling for solutions after Chinese Premier Li Keqiang and central bank governor Yi Gang hinted this month that there is relatively little that the government could do to help them at a time the economic challenges were, according to Li, “to a certain extent greater than those experienced in 2020”, the report added.
Read the full report: Financial Times.
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