Published on: April 18th, 2022 • Duration: 59 minutes
Lockdowns of millions of people in Shanghai, Shenzhen, and other Chinese cities have caused major disruptions to factories, supply chains, investment, consumption, investments, and jobs. But the National Bureau of Statistics reported China’s first-quarter gross domestic product (GDP) growth was 4.8%, beating the consensus forecast and up from 4% in the fourth quarter. As China Beige Book CEO Leland Miller notes, neither was its 2020 recovery as hot as outsiders surmised nor was its 2021 retreat as steep as those same outsiders suggested. Miller joins Maggie Lake for today’s Real Vision Live to offer a data-based analysis of China’s economy, including his assessment of Chinese officials’ expectations, the role of the Chinese consumer, and the continuing impact of the “Zero COVID” policy.
