China signals that it’s not dropping covid-zero policies any time soon | Forexlive

The People’s Daily was out today with an editorial saying China “will stick with zero-covid strategy to avoid huge losses arising from losing control of the epidemic.”

It’s the third straight day of editorials endorsing the policy that’s increasingly leaving China at odds with the world and its economy suffering.

A day earlier, an editorial called for more confidence and patience in the current zero-Covid policy. The day before that, a commentary said the zero-covid policy is sustainable and essential to China’s economic stability and China must stick to it.

These are party-approved editorials and wouldn’t be released if Xi was planning to drop restrictions after the People’s Congress (starting next week).

This is a drag for global growth and has been one of the things dragging oil back down this week.