Pedestrians walk along Nanjing Road East in Shanghai on December 28. Monetary policy easing is not the right solution for boosting domestic demand. If China sticks to its zero-Covid strategy, consumption will struggle to return to its pre-pandemic levels. Photo: Bloomberg
Pedestrians walk along Nanjing Road East in Shanghai on December 28. Monetary policy easing is not the right solution for boosting domestic demand. If China sticks to its zero-Covid strategy, consumption will struggle to return to its pre-pandemic levels. Photo: Bloomberg