Residents stand in line for their routine COVID-19 tests in freezing cold weather in Beijing on November 29. Chinese universities are sending students home as the Communist Party tries to prevent more zero-Covid protests. Photo: AP
Residents stand in line for their routine COVID-19 tests in freezing cold weather in Beijing on November 29. Chinese universities are sending students home as the Communist Party tries to prevent more zero-Covid protests. Photo: AP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why markets mustn’t overread the tea leaves on China’s Covid protests and reopening

  • Even before the Covid protests, a shift in Beijing’s pandemic management had become the most talked-about issue in markets
  • Divining Beijing’s intentions is a fool’s errand. Even investors can’t agree on which scenario poses more of a threat to asset prices: imposing more lockdowns or allowing the virus to spread more easily

Residents stand in line for their routine COVID-19 tests in freezing cold weather in Beijing on November 29. Chinese universities are sending students home as the Communist Party tries to prevent more zero-Covid protests. Photo: AP
Residents stand in line for their routine COVID-19 tests in freezing cold weather in Beijing on November 29. Chinese universities are sending students home as the Communist Party tries to prevent more zero-Covid protests. Photo: AP
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