China's GDP has expanded at 8.1 percent in 2021, growing the fastest in nearly a decade and landing well above the government's annual target of achieving a growth rate above 6 percent.
The argument that China should show “higher tolerance for Covid” comes down to the “punishing economic and social cost” and “pandemic fatigue” cited by the “health experts” in the September 13 Times piece. The economic cost is easier to calculate: With its zero-Covid policy, China’s GDP grew 2.3% last year, one of the few major economies to have a positive growth rate in 2020, while the US shrank by 3.5% with its lots-of-Covid strategy.
Climbing out of that hole, the US is expected to do well this year, with the IMF projecting a 6.4% growth rate. But China is expected to do even better, with an estimated 8.4% growth rate. If China is paying an economic cost for having 99.3% fewer Covid deaths, it’s not a huge cost.
The “social cost” of “pandemic fatigue” is harder to quantify. But if, like most of our readers, you live in the United States, ask yourself: Do you feel like you are free of “pandemic fatigue” because you live in a country that has a “higher tolerance of Covid”? Do you think that most citizens of China—which reopened schools for in-person learning in September 2020, not 2021—would happily exchange their coronavirus anxiety for ours?
“Misery loves company” is an old saying. It’s not a good principle for health reporting, though."
China GDP growth since the pandemic began is 5.1% and US is at ~1% lol
It gets even better. Check out this article from March 2021:
Economists are swiftly upgrading their US growth forecasts as Covid vaccinations accelerate and after Washington enacted a $1.9 trillion stimulus package that is far larger than many thought possible just a few months ago.
Goldman Sachs is calling for 2021 US GDP growth of 6.9%, the fastest since 1984. Morgan Stanley is even more bullish, predicting 7.3% growth. That would surpass the Chinese government's humble target of 6%. More importantly, these Wall Street estimates for the US' pace are not far from the 8.4% consensus forecast for China among economists polled by Refinitiv.
All of this means that US GDP growth could rival or perhaps even surpass that of China. This would be a remarkable achievement because the United States is a much more mature economy — and was blown away by China's explosive growth out of the Great Recession.
The reality looks to be way below these rosy expectations. lol
Couldn't you make an argument that covid outbreaks lower GDP? A bunch of people get covid and can't go into work so the restaurant or factory or whatever has to shutdown for a few days.
Nearly unending mileage: https://fair.org/home/nyt-china-needs-to-rethink-its-not-letting-people-die-from-covid-policy/
China GDP growth since the pandemic began is 5.1% and US is at ~1% lol
It gets even better. Check out this article from March 2021:
The reality looks to be way below these rosy expectations. lol
Couldn't you make an argument that covid outbreaks lower GDP? A bunch of people get covid and can't go into work so the restaurant or factory or whatever has to shutdown for a few days.
Nah you just squeeze the ones left harder