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.