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Does China’s Zero Covid Strategy Mean Zero Economic Growth?

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Abstract

The Chinese government has followed a “zero covid strategy” (ZCS) ever since the world’s first COVID-19 lockdowns ended in China around late March and early April of 2020. While this strategy has been effective at maintaining low infection levels and robust manufacturing and export activity, its viability is being severely strained by the spread of increasingly infectious coronavirus variants. As a result, there now appears to be a fundamental incompatibility between the ZCS and the government’s economic growth objectives.

Suggested Citation

  • Hunter L. Clark & Lawrence Lin, 2022. "Does China’s Zero Covid Strategy Mean Zero Economic Growth?," Liberty Street Economics 20220602, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:94289
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    File URL: https://libertystreeteconomics.newyorkfed.org/2022/06/does-chinas-zero-covid-strategy-mean-zero-economic-growth/
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    More about this item

    Keywords

    China; COVID-19; growth;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • F00 - International Economics - - General - - - General
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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