Covid Surge Worse Than Anything We’ve Seen

German Chancellor Angela Merkel said boosting vaccination rates will not be enough to contain soaring coronavirus infections across the country, Bloomberg reported, calling for tough action as countries across Europe come down hard on the unvaccinated and prepare drastic measures to smother the outbreak.

Key Facts

Merkel reportedly told officials from her conservative party on Monday that many Germans don’t appear to understand how severe the country’s outbreak is, according to Bloomberg, calling on individual German states to implement tougher restrictions this week.

The measures would exceed new restrictions barring unvaccinated people from public transport and many areas of public life—which apply in areas where hospitalized Covid-19 patients exceed a certain threshold—and health minister Jens Spahn said he could not rule out another nationwide lockdown.

Some politicians in Germany are debating following neighboring Austria—which went back into full lockdown Monday after a more targeted, unvaccinated-only lockdown—in requiring everyone to get vaccinated against Covid-19.

From February next year, Austrians refusing the jab will face fines of up to €3,600 ($4,000), with smaller penalties for those refusing booster shots.

Czechia and Slovakia have also started to make life harder for vaccine holdouts—Slovak Prime Minister Eduard Heger reportedly called the measures a “lockdown for the unvaccinated”—barring them from using various services, entering restaurants and public events.

Crucial Quote

By spring, “pretty much everyone in Germany… will be vaccinated, cured or dead,” Spahn said at a news conference Monday. “With the very contagious delta variant, it is very, very likely … that anyone who is not vaccinated will over the next few months become infected.”

Key Background

Europe has, again, become the center of the pandemic. Cases and deaths have been rising there even as they mostly fell around the world. The World Health Organization said it is “very worried” about the situation, warning that an additional 500,000 deaths could be recorded by March if sufficient steps aren’t taken.

Many countries, particularly in Central and Eastern Europe, are facing dramatic surges and infections are at record-breaking levels. Slovakia, Slovenia, Austria, Czechia, Germany and the Netherlands are all at, or have hit, new highs and cases are rapidly rising in other countries.

Violent protests against new lockdowns and other restrictions have erupted across the bloc as governments scramble to contain rising cases. Many of these measures explicitly target the unvaccinated, who experts and officials warn are undoubtedly driving the new wave by refusing provably safe and effective vaccines.

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I am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter @theroberthart or email me at rhart@forbes.com

Source: Covid Surge ‘Worse Than Anything We’ve Seen’: Germany Mulls Tough Restrictions As Europe Targets Unvaccinated With Lockdown, Compulsory Shots

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Further Reading

Czechs, Slovaks target unvaccinated people in step behind Austria (Reuters)

Not Just Austria—Here Are The Countries Making Covid-19 Vaccination Compulsory For Everyone (Forbes)

Europe’s Carrot vs. Stick Approach to COVID-19 Vaccination (Atlantic)

Austria Sends Unvaccinated Into Lockdown—Here’s How Other Nations Are Limiting People Who Don’t Get Covid-19 Shots (Forbes)

Merkel Says Covid Spike ‘Worse Than Anything We’ve Seen’ (Bloomberg)

‘We Have To Face Reality’: Austria Announces Nationwide Vaccine Mandate, Full-Scale Covid-19 Lockdown (Forbes)

Lockdown And Restrictions Resurface In Europe As Continent Battles Another Covid Surge (Forbes)

Covid Clusters Among The Vaccinated Point To Rise of Delta

They were gold miners in French Guiana, revelers in Cape Cod, and Indian health-care workers. Even though they inhabit worlds apart, they ended up having two things in common. All were vaccinated against covid-19. And they all became part of infection clusters.

In recent weeks, cases like these are proving that covid-19 transmission chains and superspreading events can occur even in groups where nearly everyone is vaccinated, setting off alarms among health officials and torpedoing hopes of a quick return to business as usual in the US.

In May 2021, the CDC had told vaccinated Americans they could safety go unmasked, but on Tuesday the agency reversed course, saying vaccinated people should wear masks in indoor public settings.

The reason was what investigators learned from an outbreak in Provincetown, Massachusetts, a seaside town on Cape Cod, which in early July hosted a rowdy parade and crowded weeks of pool parties. Since then, Massachusetts health investigators say, there have been more than 500 cases of covid-19 linked to those events in state residents, 73% of which are in people who were vaccinated. Including people from other states, the infection cluster involves over 900 people.

The Provincetown outbreak was caused by the so-called delta variant, which now accounts for most cases in the US.  In a statement released today, Rochelle Walensky, head of the CDC, said the “pivotal discovery” was that vaccinated people infected with delta in Provincetown appear to have just as much virus in their systems as those who are unvaccinated.

“High viral loads suggest an increased risk of transmission and raised concern that, unlike with other variants, vaccinated people infected with delta can transmit the virus,” she said.

The recommendation suggests a rapid return to a layered approach of countermeasures, including masks and social distancing, which could also complicate school reopenings starting next month in the US.

Infection at a gold mine

Investigations around the world have been building evidence of outbreaks among the vaccinated for weeks. For instance, a scientific team in Paris and French Guiana recently described how covid-19 tore through a South American gold mine in May, even though nearly all the miners had received Pfizer’s vaccine.

Despite being inoculated, 60% became infected by a variant called gamma. That surprised the scientists so much that they checked to see if the vaccines had been damaged in shipping, but they weren’t.

The initial studies of Pfizer’s vaccine, the mostly widely used in the US, showed it was more than 90% effective in preventing symptomatic disease. But that’s not what was seen in the gold miners; half ended up with symptoms like a fever. The vaccines may still have helped, though. None of the miners became seriously ill, even though most were older than 50 and some had risk factors like high blood pressure and diabetes.

More evidence comes from India, where health-care workers were eligible for the AstraZeneca vaccine starting in early 2021. But when a team from the UK and India looked at covid-19 cases in these workers, they found “significant numbers of vaccine breakthrough infections” at three Delhi hospitals, including a superspreading event that infected 30 people.

The breakthrough infections were much more likely to be caused by the delta variant, they say, than any of the older strains. The older variants were never able to cause a cluster of more than two linked cases among the health-care workers. But the researchers found 10 delta outbreaks that did so.

The reason the delta variant is different is that it transmits more easily; one reason is that the strain may be “evading” prior immunity, say researchers. That could help explain outbreaks among vaccinated people, and it also means that if you’ve already had covid-19, you could more easily get it again. The UK-India team estimated that natural protection against infection dropped by as much as half when people were exposed to delta.

Covid on Cape Cod

In the US, the Provincetown outbreak may have taken hold during the July 4 “Independence Week,” when the town hosts thousands of visitors. As July wore on, investigators learned of hundreds of covid-19 cases, and sequencing labs in Boston determined they were caused by delta.

The Provincetown outbreak set off alarm bells at the CDC because vaccines didn’t seem to prevent the virus from spreading person to person, even though most were vaccinated, according to the Washington Post, which obtained an internal CDC presentation that described delta as being as contagious as chicken pox.

Another key clue came from PCR tests run on about 200 people in the Provincetown cluster. Researchers found that the amount of virus in someone’s airway—and hence what the person might launch into the word with every cough and sneeze—was roughly the same, no matter whether people were vaccinated or not.

That doesn’t prove that vaccinated people transmit just as much, says Monica Gandhi, an infectious disease researcher at the University of California, San Francisco. She says that PCR tests detect virus fragments as well as live germs, so vaccinated people might be shedding less live virus or be infectious for less time. Gandhi adds that even with variants circulating, vaccines are still effective so far at preventing most major illness.

Nevertheless, “we are seeing more mild, symptomatic cases,” she says, as well as transmission among the vaccinated.

For the CDC, the new information posed a difficult communication problem: how to tell everyone the vaccine party might be over. In May, it had said that fully vaccinated Americans could dispense with masks and social distancing in most circumstances.

But by July 25, local officials in Provincetown had reintroduced an indoor mask mandate for the town, covering indoor restaurants, offices, bars, and dance floors, and said they would begin testing wastewater. Two days later, the CDC followed suit, recommending that in high-transmission areas everyone wear a mask in indoor public settings.

Because of the delta variant, much of the US may soon qualify as being a high-risk area. Since a low in June, covid-19 cases have risen more than sixfold.

Source: Covid clusters among the vaccinated point to rise of delta | MIT Technology Review

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After Months as a Covid Success Story, China Tries to Tame Delta

In the battle against the coronavirus, few places seemed as confident of victory as China.

The country of 1.4 billion people had eradicated the virus so quickly that it was one of the first in the world to open up in spring last year. People removed their masks and gathered for pool parties. In recent months, the government has contended with sporadic outbreaks in various provinces, but stamped them out swiftly by mobilizing thousands of people to test and trace infections, as well as locking down communities.

That model is now looking increasingly fragile in a world that passed a grim milestone on Wednesday: the 200 millionth recorded case of infection.

China is facing its biggest challenge since the virus first erupted in the Chinese city of Wuhan last year: the highly transmissible Delta variant that is rapidly spreading throughout the country. Chinese officials have acknowledged that curbing this outbreak will be much harder than the others, owing to the fast and asymptomatic spread of the variant.

Globally, the virus is continuing to infect at an astonishing rate. It took more than a year for the pandemic to reach its 100 millionth case, and little more than six months to double that.

While the number of cases in China are still relatively low compared to the United States and elsewhere, these new outbreaks — happening in cities such as Nanjing, Wuhan, Yangzhou and Zhangjiajie — are showcasing the limitations of China’s zero-tolerance approach to Covid. They may also undermine the ruling Communist Party’s argument that its authoritarian style has been an unquestionable success in the pandemic.

Although the government had to stamp out a Delta flare-up in June in Guangdong Province, authorities this time are dealing with a much larger spread. Since the current Delta outbreak started on July 21, the number of cases has risen to 483, more than the sum total of infections from the first five months of the year. By Tuesday afternoon, the virus had spread to 15 of the 31 provinces and autonomous regions in China.

“Once it reaches so many provinces, it’s very hard to mitigate,” said Chen Xi, an associate professor of public health at Yale University. “I think this would be surprising and shocking to the rest of the world. Such a powerful government has been breached by Delta. This will be a very important lesson — we cannot let our guard down.”

Last week, Sun Chunlan, a vice premier of China, blamed “ideological laxity” for the Delta outbreaks and urged officials to step up their prevention efforts. “We cannot relax for a moment,” Ms. Sun said.

Some public health experts in the country say it is time for China to rethink its Covid strategy. In a recent essay, Zhang Wenhong, who advises the Chinese government on dealing with Covid-19, floated the idea of following a model similar to that of Israel and Britain, in which vaccination rates are high and people are willing to live with infections.

For now, China has stuck to the same strict playbook. Across the country, the government has instructed people not to travel unless necessary. In the cities of Zhangjiajie and Zhuzhou, 5.4 million people have been barred from leaving their homes. Roughly 13 million residents in the city of Zhengzhou, the site of deadly floods in July, had to stand in line for virus testing starting last weekend.

In Nanjing, where the recent Delta cases first appeared, millions of residents have had to participate in four rounds of testing.

A vaccination event in Wuhan in June. Part of the challenge for Beijing is that the Chinese-made vaccines are not as effective against the Delta variant.

“It’s just torturing the masses,” said Jiang Ruoling, a resident in Nanjing, who has been tested four times in the last three weeks. Ms. Jiang, who works in real estate, said she understood the need for testing, but was still critical of officials for failing to control the latest outbreak. “The leaders are actually wasting resources and everyone’s time,” she said.

Yanzhong Huang, a senior fellow for global health at the Council on Foreign Relations, said China’s “containment-based” strategy would not work in the long run, particularly as new variants continue to emerge. “It will become extremely costly to sustain such an approach,” he said.

And yet China appears unwilling to take any chances. In Wuhan, the authorities on Tuesday started testing all 12 million residents after only three cases of the Delta variant were discovered. The cities of Sanmenxia and Zhuhai have also begun mass testing. In Beijing, where there are five infections, train service from 23 cities has been canceled.

Jennifer Huang Bouey, a senior China policy expert and an epidemiologist at the RAND Corporation, said that even with strict controls, it may not be realistic for officials in China to get these latest cases down to zero. “I think they may have to prepare people for a higher tolerance of Covid,” Dr. Huang said.

Part of the challenge for Beijing is that the Chinese-made vaccines being used to immunize the country are not as effective against the Delta variant as other shots. The government says it has already administered about 1.69 billion doses. Health officials are now considering giving booster shots to people with compromised immune systems as well as older citizens.

Zhong Nanshan, a top epidemiologist, said China’s vaccines are 100 percent protective against severe disease caused by Delta, and 63.2 percent effective against asymptomatic cases. He said he was confident that the latest outbreak would be controlled in about 10 to 14 days, during which officials hope to carry out extensive contact tracing in Nanjing and several other cities in Jiangsu Province.

The current Delta cases have been linked to a flight from Moscow that landed in Nanjing on July 10. Seven passengers on the flight were infected with the variant. On July 20, nine airport cleaners tested positive. Their infections spread quickly among people who entered the airport, a major transportation hub.

A mother and daughter and a 12-year-old girl who flew to Zhangjiajie after transiting for two hours in the Nanjing airport have all tested positive. Three other tourists who traveled to Zhangjiajie have been linked to an outbreak in the central city of Changde, after they all took a river cruise. About 27 infections in at least six places have been linked to the boat ride.

Cases have also spread in Yangzhou among “chess and card” rooms — poorly ventilated spaces where many older patrons gather to play mahjong, chess and cards. Local officials are offering rewards of several thousand renminbi to whistle-blowers who find and report on people who have been in these rooms.

The Beijing subway during rush hour on Wednesday. Officials have allowed people to continue using public transportation during the Delta outbreak.

“The situation has not yet bottomed out, Wu Zhenglong, the governor of Jiangsu Province, said at a news conference on Sunday. “The prevention and control situation is severe and complicated.

Han Xiaoyi, a 23-year-old resident in Nanjing, said she was furious at the way the government had initially handled the Delta outbreak in her city. Officials have allowed people to continue going to work in crowded subways and buses, she said.

Ms. Han, who works in sales, has had to take time off to stand in line for hours to get tested four times in recent days. “When it started, I felt really depressed because at first, it felt like the pandemic was far away from me,” she said. “Then suddenly, it felt like it was back in my midst.”

Source: https://www.nytimes.com

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How ‘Chaos’ In The Shipping Industry Is Choking The Economy

Whidbey Island is a lovely place about 30 miles north of Seattle on the Puget Sound. Most days the tranquil sounds of rolling waves and chirping birds provide an escape from the hustle and bustle of the city. But these days, all is not so serene. Residents are complaining about the ruckus created by humongous container ships anchored off their shore.

“We’ve never seen them this close before,” a Whidbey Islander told a local news station. “We’re hearing the throbbing noise at night. … It’s a nuisance.” The noise has been so loud that residents have been complaining to the county sheriff’s office about it.

Whidbey Islanders are getting a front row seat to the growing U.S. trade deficit, which is hitting record highs. It’s fueled by a surge in demand for imports, mostly from East Asia. There’s so much cargo being shipped to the U.S. from Asia right now that the ports of Seattle and Tacoma are chock-full of container ships.

“We are seeing a historic surge of cargo volume coming into our ports,” says Tom Bellerud, the chief operations officer of The Northwest Seaport Alliance, which manages all cargo processing at the ports of Seattle and Tacoma. “The terminals are having a difficult time keeping up with processing all the cargo off these vessels fast enough.”

On both land and at sea, the entire supply chain is struggling to keep up. In the Pacific Northwest, it’s become such a clusterfest that the U.S. Coast Guard has been redirecting boats to anchor off the coast of Whidbey Island and other places they typically don’t park. Ship crews are having to wait days, even weeks, for the chance to dock at the ports and offload their precious goods.

It’s the same story up and down the West Coast. In San Francisco Bay, the traffic jam of container ships has gotten so bad that the U.S. Coast Guard has been asking ships not to enter the bay at all. Robert Blomerth, director of the USCG’s San Francisco Vessel Traffic Service, said last week that there were 16 container ships waiting in the open ocean outside the Golden Gate to get in and unload their cargo. He says it’s “completely abnormal.”

When we spoke to Gene Seroka, the head of the Port of Los Angeles, he said his port had 19 ships waiting to dock and they’re now waiting, on average, about five days to get in. In normal times, they don’t have to wait at all.

Lars Jensen, CEO of Vespucci Maritime, has spent 20 years studying the industry and he says what’s going on is unprecedented. “The container shipping industry is in a state of chaos that I don’t think it has ever been since it was invented,” he says.

The maiden voyage of the first container ship set sail from Newark, N.J., back in 1956. It may be hard to fathom just how big a deal this innovation was. It was just a big ship that carried containers, literally metal boxes. But these metal boxes enabled ships to carry dramatically more cargo, and, by standardizing shipping practices and using new machines to handle the boxes, shippers were able to slash costs and the time it takes to load, unload and transport that cargo.

Economists credit these metal boxes with increasing the efficiency of shipping so much that it stitched the modern global economy together more than anything else — more than all free-trade agreements put together.

Now economists are concerned that the plumbing provided by these miracle boxes and the vessels that transport them is clogged. It’s making it more difficult for stores to restock their shelves, manufacturers, carmakers and builders to get the parts they need, and farmers to export their products. It’s an important reason, analysts say, that we’re seeing consumer prices surge.

How did shipping get topsy-turvy?

In the early days of the pandemic, global trade hit an iceberg and sank into the abyss. The decline of maritime shipping was so dramatic that American scientists saw a once-in-a-lifetime opportunity to study what happened to whales in the absence of a constant deluge of vessels. The noise from the ships apparently stresses them out — kind of like they’re currently stressing out the residents of Whidbey Island.

Greater tranquility for whales in the first half of 2020 was the result of shipping companies canceling their trips and docking their ships. Then the economy rebounded, and American consumers unleashed a tidal wave of demand that swept through the shipping industry when they started shifting their spending patterns. Unable to spend money on going out, many started spending their money (and their stimulus checks) on manufactured goods — stuff that largely comes from China on container ships.

At first, it wasn’t the ships that were the problem; it was the containers. When the buying spree began, Chinese exporters struggled to get their hands on enough empty boxes, many of which were still stranded in the U.S. because of all the canceled trips at the beginning of the pandemic. More importantly, processing containers here has been taking longer because of all the disruptions and inefficiencies brought about by the pandemic. Containers have been piling up at dockyards, and trains and trucks have struggled to get them out fast enough.

“The pandemic has exacerbated longstanding problems with the nation’s supply chain, not just at the ports but in the warehouses, distribution centers, railroads, and other places that need to run smoothly in order for Longshore workers to move cargo off of the ships,” says Cameron Williams.

He’s an official at the International Longshore and Warehouse Union, which represents dock workers, primarily on the West Coast. Dock workers have been working through the pandemic to handle the increased cargo volume, he says, and at least 17 ILWU workers lost their lives to COVID-19. “We continue to work hard and break records month after month to clear the cargo as quickly as the supply chain allows,” Williams says.

It’s been all hands on deck to supply ravenous consumers and businesses with the stuff they want. The resulting traffic jams at West Coast ports means it takes longer to unload stuff, which then extends the time it takes for ships to get back across the Pacific to reload.

That congestion was already creating massive delays on both ends of the shipping supply chain, tying up large numbers of containers and ships and leading to growing backlogs and shortages. Then, in March 2021, the Ever Given, one of the largest container ships in the world, got stuck in the Suez Canal in Egypt. While the blockage didn’t directly affect the Asia-West Coast shipping corridor, it added to the global shortage of ships and containers by stranding even more of them out at sea.

As if all this weren’t enough, last month there was a COVID-19 outbreak at the Yantian International Container Terminal in China, which is normally one of the busiest ports in the world. The Chinese government implemented stringent measures to control the outbreak, and as a result, more than 40 container ships had to anchor and wait. “In terms of the amount of cargo, what’s going on in South China right now is an even larger disturbance than the Suez canal incident,” Jensen says.

The effects on the American economy

With so much shipping capacity bogged down, importers and exporters have been competing for scarce containers and vessels and bidding up the price of shipping. The cost of shipping a container from China/East Asia to the West Coast has tripled since 2019, according to the Freightos Baltic Index. Many big importers pay for shipping through annual contracts, which means they’ve been somewhat insulated from surging prices, but they are starting to feel the pain as they renegotiate contracts.

Rising shipping costs and delays are starving the economy of the stuff it needs and contributing to shortages and inflation. It’s not just consumers and retailers that are affected: American exporters are complaining that shipping companies are so desperate to get containers back to China quickly that they’re making the return trip across the Pacific without waiting to fill up containers with American-made products. That’s bad news for those exporters — and for America’s ballooning trade deficit.

As for when it’s going to get better, none of the people we spoke to believes it’ll be anytime soon. And it’s not even considered peak season for the shipping industry yet. That typically begins in August, when American stores start building their inventories for the back-to-school and holiday seasons. The residents of Whidbey Island may have to continue dealing with the nuisance of gigantic, noisy ships cluttering up the horizon for the foreseeable future.

By:

Source: How ‘Chaos’ In The Shipping Industry Is Choking The Economy : Planet Money : NPR

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References:

Shipbuilding NewsCruise Ship News, Ports News ,Salvage News ,Training News ,Government News, Environment News,Corporate News, Maritime Executive , Volga Targets Market, Nuclear-Powered Cargo Ship, China’s Exports, American Vulkan’s Service Team, JFE Steel, OMSA, OceanManager Inc.

China’s Slowing V-Shaped Economic Recovery Sends Global Warning

China’s V-shaped economic rebound from the Covid-19 pandemic is slowing, sending a warning to the rest of world about how durable their own recoveries will prove to be.

The changing outlook was underscored Friday when the People’s Bank of China cut the amount of cash most banks must hold in reserve in order to boost lending. While the PBOC said the move isn’t a renewed stimulus push, the breadth of the 50 basis-point cut to most banks reserve ratio requirement came as a surprise.

Data on Thursday is expected to show growth eased in the second quarter to 8% from the record gain of 18.3% in the first quarter, according to a Bloomberg poll of economists. Key readings of retail sales, industrial production and fixed asset investment are all set to moderate too.

The PBOC’s swift move to lower banks’ RRR is one way of making sure the recovery plateaus from here, rather then stumbles.

The economy was always expected to descend from the heights hit during its initial rebound and as last year’s low base effect washes out. But economists say the softening has come sooner than expected, and could now ripple across the world.

“There is no doubt that the impact of a slowing China on the global economy will be bigger than it was five years ago,” said Rob Subbaraman, head of global markets research at Nomura Holdings Inc. “China’s ‘first-in, first-out’ status from Covid-19 could also influence market expectations that if China’s economy is cooling now, others will soon follow.”

Group of 20 finance ministers meeting in Venice on Saturday signaled alarm over threats that could derail a fragile global recovery, saying new variants of the coronavirus and an uneven pace of vaccination could undermine a brightening outlook for the world economy. China’s state media also cited several analysts Monday saying domestic growth will slow in the second half because of an uncertain global recovery.

China’s slowing recovery also reinforces the view that factory inflation has likely peaked and commodity prices could moderate further.

“China’s growth slowdown should mean near-term disinflation pressures globally, particularly on demand for industrial metals and capital goods,” said Wei Yao, chief economist for the Asia Pacific at Societe Generale SA.

The changing outlook reflects the advanced stage of China’s recovery as growth stabilizes, according to Bloomberg Economics.

What Bloomberg Economics Says…

“Looking through the data distortions, the recovery is maturing, not stumbling. Activity and trade data for June will likely paint a similar picture — a slower, but still-solid expansion.”

— The Asia Economist Team

For the full report, click here.

Domestically, the big puzzle continues to be why retail sales are still soft given the virus remains under control. It’s likely that sales slowed again in June, according to Bloomberg Economics, as sentiment was weighed by controls to contain sporadic outbreaks of the virus.

Even with the PBOC’s support for small and mid-sized businesses, there’s no sign of a broad reversal in the disciplined stimulus approach authorities have taken since the crisis began.

The RRR cut was partially to “manage expectations” ahead of the second-quarter economic data this week, said Bruce Pang, head of macro and strategy research at China Renaissance Securities Hong Kong.

“It also provides more policy room going forward, as the momentum of the economic recovery has surely slowed.”

— With assistance by Enda Curran, Yujing Liu, and Bihan Chen

Source: China’s Slowing V-Shaped Economic Recovery Sends Global Warning – Bloomberg

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Critics:

The Chinese economic reform or reform and opening-up; known in the West as the Opening of China is the program of economic reforms termed “Socialism with Chinese characteristics” and “socialist market economy” in the People’s Republic of China (PRC). Led by Deng Xiaoping, often credited as the “General Architect”, the reforms were launched by reformists within the Chinese Communist Party (CCP) on December 18, 1978 during the “Boluan Fanzheng” period.

The reforms went into stagnation after the military crackdown on 1989 Tiananmen Square protests, but were revived after Deng Xiaoping’s Southern Tour in 1992. In 2010, China overtook Japan as the world’s second-largest economy.

Before the reforms, the Chinese economy was dominated by state ownership and central planning. From 1950 to 1973, Chinese real GDP per capita grew at a rate of 2.9% per year on average,[citation needed] albeit with major fluctuations stemming from the Great Leap Forward and the Cultural Revolution.

This placed it near the middle of the Asian nations during the same period, with neighboring capitalist countries such as Japan, South Korea and rival Chiang Kai-shek‘s Republic of China outstripping the PRC’s rate of growth. Starting in 1970, the economy entered into a period of stagnation, and after the death of CCP Chairman Mao Zedong, the Communist Party leadership turned to market-oriented reforms to salvage the failing economy.

Citation:

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