As rest of world locks down, China struggles to get shoppers out - News Summed Up

As rest of world locks down, China struggles to get shoppers out


That’s the latest message from the Chinese government to its people, after months of warning them to stay indoors because of the coronavirus. Domestic media are playing up stories of officials venturing out to enjoy local delights like bubble tea, hot pot and pork buns. The lukewarm response to the consumption campaign is a cautionary tale for governments around the world who are hoping for a quick recovery once lockdowns are lifted. The task has largely been left to local governments, who have to convince their constituents to leave their homes and spend. “The stimulus packages from local governments are not enough,” said Wang Dan, an analyst at the Economist Intelligence Unit.


Source: The Edge Markets March 30, 2020 22:30 UTC



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