Beijing has decided to address the negative economic impacts of lockdowns, the signature element of its “Zero COVID” public health policies.
Instead of ending the lockdowns—which have been a failure even in China—the new approach is to force workers—including bankers and office workers—in Shanghai to lockdown at work, so they can remain productive.
Bankers, traders and other white-collar workers on China's Wall Street are also finding they have no choice but to ride out the lockdown at the office, as management demands that workers bed down for a long stretch without going home.
This despite low numbers of symptomatic COVID-19 cases.
The number of new confirmed community transmitted cases in the major financial hub of Shanghai reached 4,477 on Tuesday. Although this number was a record high, only 2.1% of cases showed symptoms.
In China at least, Pandemic Panic still trumps economic common sense.
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China's New Lockdown Scheme: Don't Go Home, Stay At Work
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Beijing has decided to address the negative economic impacts of lockdowns, the signature element of its “Zero COVID” public health policies.
Instead of ending the lockdowns—which have been a failure even in China—the new approach is to force workers—including bankers and office workers—in Shanghai to lockdown at work, so they can remain productive.
This despite low numbers of symptomatic COVID-19 cases.
In China at least, Pandemic Panic still trumps economic common sense.