Here's what lies ahead for China after zero-Covid failed
By now, most major economies have found a way to live with Covid-19—except for China. However, that's beginning to change.
The wave of protests that swept across the country over its draconian Covid restrictions, known as "zero-Covid," pushed Chinese leadership to act. China is beginning to lift its more stringent rules after nearly three years in isolation. But what could mark the end of zero-Covid may be just the beginning of China's pandemic problems.
"I think in the next couple of weeks, China will be faced with unprecedented pressure to the health system," Xi Chen, an associate professor at the Yale School Of Public Health, told CNBC in an interview.
Not to mention there are doubts that China's economy will be able to make a swift recovery even as it moves away from zero-Covid. The World Bank slashed its economic growth forecast for China to 2.7% in 2022, about half of the nation's target.
"Between companies that manufacture in China for China, they're not going anywhere," Jeff Moon, China Moon Strategies founder and former assistant U.S. trade representative for China, said in an interview. "But there are also companies that are manufacturing in China for export out of China, and those are the companies that are actually looking to at different locations."
Watch the video to learn more about how China's stringent zero-Covid policies collapsed and the challenges the world's second-largest economy faces as it moves to reopen.