“It’s clear that the affect of lockdowns, or the concern of lockdowns, overwhelmed any financial easing, and the Shanghai lockdown had ripple results throughout the nation,” stated Wei Yao, head of analysis for Asia Pacific and chief economist at Societe Generale SA. If the surge in unemployment “doesn’t elevate the urgency of adjusting the zero-Covid measures to permit the financial system to normalize, we don’t know what’s going to,” she stated.
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