Chinese officials are grappling with the economic distress caused by their Covid-19 restrictions, as several cities remain in lockdown, according to the head of a European trade group
Jörg Wuttke, president of the European Union Chamber of Commerce in China, said in an interview with CNN Business on Thursday that his latest conversations with the government had been encouraging as pressure built on Beijing to ease up on measures that have stifled economic activity and kept millions of people at home.3 reasons Shanghai's lockdown matters to the global economy"They are painfully aware of the damage to the economy. They're worried about unemployment.
In a widely publicized letter this week, the European chamber wrote to China's State Council and Vice Premier Hu Chunhua calling for the government to shift away from the"zero Covid" approach and toward Singapore's"living with Covid" model.Wuttke said that officials took the recommendation surprisingly"well," and appeared open to further discussion."They see the damage it does," he added.
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