BEIJING, Aug 2 (Reuters) - The Delta variant poses new risks for the world's second-biggest economy as it spreads from the coast to China's inland cities and presents fresh challenges to authorities who have for months managed to avert any widespread outbreak of the coronavirus.
https://www.reuters.com/world/china/delta-variant-bears-down-china-just-its-economy-loses-steam-2021-08-02/And in the wall street journal this.
China’s Strict Covid-19 Strategy Risks Slowing Economic Recovery as Delta Variant Hits.
HONG KONG—Outbreaks of the Covid-19 Delta variant are threatening to slow China’s economic recovery and raising concerns about the costs of the country’s strict coronavirus containment strategy.
https://www.wsj.com/articles/chinas-strict-covid-19-strategy-risks-slowing-its-economic-recovery-11628611158China’s Delta outbreak tests Beijing’s faith in its homegrown COVID vaccines.
https://fortune.com/2021/08/05/china-delta-outbreak-covid-vaccine-lockdown-growth/The Delta variant is challenging China’s costly strategy of isolating cities, prompting warnings that Chinese leaders who were confident they could keep the coronavirus out of the country need a less disruptive approach.
As the highly contagious variant pushes leaders in the United States, Australia, and elsewhere to renew restrictions, President Xi Jinping’s government is fighting the most serious outbreak since last year’s peak in Wuhan. The ruling Communist Party is reviving tactics that shut down China: Access to a city of 1.5 million people has been cut off, flights canceled, and mass testing ordered in some areas.
https://thediplomat.com/2021/08/delta-variant-challenges-chinas-costly-lockdown-strategy/Its starting to get world news now and markets will soon get the jitters.
If they have to close their steel mills the IO price will fall hard then out FMG shares will fall hard.
Think we will see a super crash. Its in a the lap of the gods now.
We'll soon see how this effects world markets.
The West has vaccines against Delta. Chinese vaccines do not work against delta.
Maybe if we helped them out with vaccines against delta this may see a better relationship going forward
but then again they've been so nasty to many countries of late they may have sealed their own fate.
(20min delay)