Do you think thats bad? It’s just the beginning of what’s to come in China? Has anyone expected the Chinese leadership to react so brutally to a virus? One would be forgiven to assume that leaders care about the bottom line and about the money issue. China’s COVID policy destroys swathes of its economy and I cannot help but think that this is an opportunity to mask bigger things going on. I am convinced that China’s last real growth is years in the past and that the economy only subsists on cash injections and fake figures. Xi needs to deflate the bubble – why not use COVID when it’s already here?
China’s refiners are expected to lower their refinery runs at the biggest scale—by 900,000 barrels per day—since the beginning of the pandemic in 2020