In China, growth is projected at 4.3 per cent in 2023--0.9 percentage points below previous forecasts. The second-largest economy in the world is now falling back in the race.
Owners of electronic vehicles manufactured by Tesla have erupted in protest against the automobile giant after missing out on availing price cuts by the company to boost sales, Malaysian news outlet, The Star, reported, adding that the car owners have claimed that they had to pay more for
Beijing has started to retaliate at Japan and South Korea by suspending the issuance of visas to people from both countries as travellers from China are facing multiple restrictions imposed by the nations due to a spike in COVID, NHK World reported.
Satellite images of a number of Chinese cities have captured crowding at crematoriums and funeral homes, amid the Covid surge across the country after Beijing lifted severe pandemic restrictions, reported Washington Post.
China, under Chairman Xi Jinping, thought it was wiser than anyone else. In fact, instead of wisdom, it turned out that the Chinese Communist Party (CCP) under Xi was pursuing nothing other than obstinate exceptionalism, believing it could do what no other nation on Earth could achieve.
As Covid cases in China continue to rise, Beijing will soon start distributing Pfizer's Covid-19 drug Paxlovid to the community health centres in the coming days, the CNN reported citing state media.
The easing of restrictions came days after mainland China diluted its harsh COVID zero policy and slightly lifted its restrictions on international travellers.
Even though China revoked its Zero Covid Policy following the protests, China unleashed its police equipped with the latest technology to go after people that had participated in the protests and dozens of people who took part in the protests have paid heavily for the dissent.
According to the author, the Communist Party realized that major economic and social distress would fracture the social contract if the country remains under the zero covid policy. And as a result, the zero COVID was jettisoned.
Amid the exponential rise in COVID-19 cases in China, the pharmaceutical industries are finding it difficult to cope with the high demand for medicines after the Xi Jinping-led government announced relaxations in its zero-Covid policy.