A woman and her daughter ride an electric bike during rush hour in Beijing on October 21. China’s economy grew 2.3 per cent last year, but new clusters of Covid-19 cases have raised questions about the outlook for this year. Photo: AFP A woman and her daughter ride an electric bike during rush hour in Beijing on October 21. China’s economy grew 2.3 per cent last year, but new clusters of Covid-19 cases have raised questions about the outlook for this year. Photo: AFP
A woman and her daughter ride an electric bike during rush hour in Beijing on October 21. China’s economy grew 2.3 per cent last year, but new clusters of Covid-19 cases have raised questions about the outlook for this year. Photo: AFP
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

Coronavirus resurgence in China will be a mere hiccup in the country’s economic recovery

  • Covid-19 infections and restrictions will slow recovery but consumption will bounce back as the main economic driver
  • With the rising yuan doing the work of tightening, the central bank can afford to take its time to normalise policy

A woman and her daughter ride an electric bike during rush hour in Beijing on October 21. China’s economy grew 2.3 per cent last year, but new clusters of Covid-19 cases have raised questions about the outlook for this year. Photo: AFP A woman and her daughter ride an electric bike during rush hour in Beijing on October 21. China’s economy grew 2.3 per cent last year, but new clusters of Covid-19 cases have raised questions about the outlook for this year. Photo: AFP
A woman and her daughter ride an electric bike during rush hour in Beijing on October 21. China’s economy grew 2.3 per cent last year, but new clusters of Covid-19 cases have raised questions about the outlook for this year. Photo: AFP
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Aidan Yao

Aidan Yao

Aidan Yao is senior emerging Asia economist at AXA Investment Managers. Prior to joining AXA IM, he was a senior financial market analyst at the Hong Kong Monetary Authority for two years. He started his career at the Reserve Bank of New Zealand in 2007, serving as an economist and later senior financial market analyst until late 2011. He holds a master degree in finance (2006) and a bachelor degree in economics and finance (2005) from the University of Otago (NZ). He is also a chartered financial analyst.