Now the epidemic may become uncontrollable, fear is hovering over China
The relaxation of the covid-19 rules by China this week has raised hopes of speeding up the country’s economy. Along with this, the apprehension of a new round of Corona epidemic has also deepened. China announced 10-point new Covid rules on Wednesday. Under these, it has been decided to shift the focus from prevention to prevention in controlling COVID-19. Along with this, infected patients without symptoms or with mild symptoms have been allowed to stay in home quarantine. It has also been decided to collectively stop the practice of Covid test.
The decision to change the Covid rules was taken by the Chinese government after nationwide public demonstrations against the strict rules. According to health experts, if the announcement made by the government is implemented properly, then China’s health system will come out in a better form. But this will happen in the long run. At present, China has decided to spend 10 per cent of GDP on health care. The budget will be brought up to this level by increasing spending by 0.5 to 0.75 percent every year.
Property sector in most crisis
According to the reports published in the media, for the time being the emphasis of the Chinese government will be on giving a boost to the economy. China’s economy has slowed down significantly this year due to strict Covid rules. Economists say that now it will not be easy for China to regain the old high growth rate of GDP. For this he has to make structural reforms. Many sectors of the economy are in crisis. Of these, the property sector is the most in crisis. Now the Chinese government has announced a plan to take over the region. But how effective it will be on the ground remains a question.
Announcement of special incentive package expected
An analysis published on the website Asia Times said that after the property sector, the Chinese government may announce a special stimulus package for digital infrastructure in the coming days. In this expectation, the share prices of Chinese telecom companies have jumped this week. Also, in the hope of increasing the market, China United Network Company has announced a partnership with Tencent Company.
Risk increased with relaxation of rules
But analysts are of the opinion that the expectations generated in the economic sector will become a reality only if the corona infection remains under control despite the relaxation of the rules. Health experts have already warned that the country’s health system may not be able to handle it if there is a strong wave of infections. Asia Times has said in its analysis that with the relaxation of the rules, the challenge of raising more hospital beds, more ICUs, more equipment including ventilators etc. has arisen in China.
Observers have opined that if the wave of the pandemic ravages the country, it could raise serious questions about the credibility of Xi Jinping’s government. Right now the government has given relief to the dissatisfied people by relaxing the rules. But if the epidemic spreads rapidly due to this step, then the government may have to face opposition on a larger scale from other people’s communities of the country.
