Kovid is making rapid strides in China. Yesterday’s the highest rate in the last two years. Currently, there are 30 million people in 13 cities under full lockdown. 5280 people were infected with the virus yesterday. It was 3507 yesterday. This is very low compared to other countries in the world. Only in the next few weeks will it be clear whether the Chinese strategy of controlling Kovid instantly will be effective once morest the rapidly spreading Omikron variant. The Kovid forecasting department at Lanshaw University estimates that it will be under control by mid – April. By then, the number of cases will be 35,000. The university says the latest Kovid outbreak is by far the most worrying.
Strict disease control began to shake the market as well. The stock market hit a 21-month low amid fears that it might hurt China’s economic growth. Economic growth last year was 8.1 percent. Only 5.5% is expected this year. However, the current crisis poses a major challenge. Trade areas are closed except for food and fuel. The highest incidence of the disease was in Jilin Province, Changchun. Factories were forced to close due to restrictions on ports. Even the bus service to Shanghai, the largest city and business capital, stopped.
