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As widespread protests break out across China, we take a closer look at the impact of the zero-Covid policy on workers, businesses and the economy, by speaking to Professor Chang-Tai Hsieh of the University of Chicago Booth School of Business. “There is no question that this has been an unmitigated economic disaster. The growth is down to levels that we haven’t seen in decades,” he told us.
Professor Hsieh added: “There has always been protests in China (…) but it’s the first nationwide protest that we have seen in the country for a very long time.”
While authorities have called for a “crackdown” in the wake of the demonstrations, they have also begun hinting that a relaxation of the hardline virus strategy could be in the works.
Also in the programme:
- The sudden collapse of FTX has sent shockwaves across the crypto industry. How are other platforms being affected, and what does it all mean for regulation? Charles Pellegrin tells us more.
- Plus, as winter approaches, how are European cities adapting their festive end-of-year decorations to the energy crisis? Emerald Maxwell reports.
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