The cost of China’s zero-Covid lockdown

Investors have warned that Treasury secretary Scott Bessent’s attempts to slash long-term US borrowing costs are doomed to fail, and European oil refinery capacity is set to shrink by a fifth over the next decade. Plus, Shanghai’s answer to the Nasdaq index is benefiting from an ...  Show more

Shares in vaccine-maker Moderna lept after it reported successful trial results for an experimental cancer vaccine, and the US Treasury department will at least double the size of its buyback of long-term government debt. Plus, top US legal firms are sparking controversy for hiri ...  Show more

China’s zero-covid policy is being <a href="https://www.economist.com/business/what-shanghai-lockdowns-mean-for-china-inc/21808450?utm_campaign=a.io&utm_medium=audio.podcast.np&utm_source=theintelligence&utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&utm_term= ...  Show more

China has signaled it may adjust some aspects of its strict zero-Covid policy following a massive show of defiance in cities across the country, with some openly calling for the removal of Chinese leader Xi Jinping. We examine the financial and psychological ramifications of the ...  Show more

China’s zero-covid policy is being <a href="https://www.economist.com/business/what-shanghai-lockdowns-mean-for-china-inc/21808450?utm_campaign=a.io&utm_medium=audio.podcast.np&utm_source=theintelligence&utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&utm_term= ...  Show more

Last year, we talked about China needing to find a mechanism to fix its economy. It looks like it may have found it - by abruptly ending its zero-Covid policies. The FT’s Shanghai correspondent Tom Hale and Global China Editor James Kynge break down what President Xi Jinping’s ...