Goldman Sachs, for example, has just slashed its projection for Chinese economic growth in 2022 to 4.3% from 4.8%. Morgan Stanley is taking a similar view that Omicron could mean the costs of a zero-Covid approach outweigh the benefits. Those issues created backlogs of containers waiting to leave, and ships waiting to dock — and added to the pressure on strained global supply chains. Staying the course, at a priceChina isn't likely to let up on its zero-Covid approach for a while. "The population has virtually no antibodies against Omicron," wrote executives at Eurasia Group in a report published earlier this month.

Source: CNN January 16, 2022 06:12 UTC