China's economy to roar back despite lockdown: British media
- By Xinhua
- May 10, 2022
By autumn, with temporary lockdowns in China forgotten, the ports reopened and restrictions lifted, China's economy will roar back once again, according to an opinion piece in The Telegraph.
Meanwhile, the United States and Europe "are back in recession and working out how to pay for the ruinous cost of closing down society in 2020," said Matthew Lynn, a financial columnist, in the article published on Friday.
Noting that the "China bears are out in force," Lynn said their pessimistic predictions about China are tempting but "fundamentally flawed."
"Lockdowns might be harsh, but they will make sure the healthcare system is able to cope while vaccination delivers enough immunity to deal with the virus," he said, adding that by the autumn, the rise of the Chinese economy "will be back on track."
Lynn noted that the latest evidence suggests three doses of vaccine by the Chinese pharmaceutical company Sinovac are "at least as effective as the Pfizer and Moderna shots, and possibly even better for the over-80s, the most crucial sector of society to protect."
"When the final tally is reckoned, China's death rate will probably be lower than most other countries, and at far lower cost," he added.
"The rise of China, and its powerhouse economy, remains by far the most important story of the 21st century," he said, noting that COVID-19 and a few weeks of lockdown in major cities "won't prove its undoing. It is far too strong for that, and has too much momentum behind it."