China is a bright spot for global economy

As 2023 begins, the world remains highly uncertain and fragile, with Kristalina Georgieva, managing director of the International Monetary Fund, saying she expects one-third of the world to be in recession this year.

Energy and food inflationary repercussions because of the Russia-Ukraine conflict remain rampant. Cassandras are having a field day on China’s perceived doom and gloom due to its decision to end the “dynamic clearing” pandemic prevention and control policy. And diplomatic rhetoric notwithstanding, there is no let up in the United States’ anti-China semiconductor stranglehold, nor is there any easing of its no-holds-barred geopolitical encirclement.

As a matter of fact, Western media reports are full of images of stretched hospital wards, overflowing mortuaries and barren pharmacy shelves, a picture of panic and pandemonium.

Despite ease of infections, concerns increase over possible emergence of a new variant of the novel coronavirus or subvariants of the Omicron variant seen in the United States. China is sharing the latest data with the World Health Organization but its economy is closely linked with the rest of our world. Still while welcoming Chinese tourists, some countries are requiring internationally recognized non-infection proof before entry.

So why do I think China is likely to be a comparatively sunny spot?

First, much misunderstood and misrepresented. The strict prevention and control policy did not mandate zero cases in all circumstances; it was used as a strategy to ensure earliest possible detection, isolation, treatment and cure. As a result, it greatly minimized deaths and prevented contagion from province to province.