Forex News

Contrarian view – “China has no choice” but to abandon COVID ZERO policy

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Bloomberg (gated) with comments from EM investor Mark Mobius:

  • China will probably ease its disruptive COVID zero policy by the end of this year
  • “I don’t think Covid is an issue going forward,” Mobius said in response to queries from Bloomberg News. “China has no choice but to open up to ensure the economy can function. Lip service will be given to it but the reality on the ground will be different.”

Add Bloomberg, says Mobius:

  • is somewhat of an outlier in predicting President Xi Jinping is likely to abandon the zero-tolerance approach in 2022 right after defending the policy — characterized by snap lockdowns, frequent mass testing, and border curbs — for saving lives at his address to this month’s Communist Party congress.

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