China hopes to take a great leap forward in the Year of the Rabbit. After three years, the 15-day spring festival—which started with Lunar New Year celebrations on January 22—is being celebrated without draconian Covid-19 restrictions in China, as the government ‘reopened’ the economy with pro-growth policies for rapid growth. Mark Matthews, head of research for Asia at Julius Baer, a private banking corporation, says one of the most unexpected aspects of China’s reopening is the removal of harsh border controls. “It is also noteworthy that oil prices have not really reacted to China’s reopening. So, it does not look very inflationary,” he says.China’s economic reopening is one of the most important events this year.

Source: Forbes January 24, 2023 08:13 UTC