The damage of the ‘covid zero’ policy for China’s economy

  • Cecilia Barria
  • BBC News World

chinese worker

Credit, Getty Images

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China’s economy is on track to grow by less than 3% this year, well below government expectations.

The strict lockdowns of ‘covid zero’ policy were a heavy blow to the Chinese economy — and the effects are increasingly evident.

The youth unemployment rate reached a record 20%, corporate profits declined and the manufacturing sector contracted again in November.

For a country accustomed to having annual growth rates close to 9% in recent decades, the situation is getting complicated.

International forecasts estimate that economic growth for this year will not exceed 3%, well below government expectations.

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