China Faces Bleak Holiday Season Amid Virus Outbreaks

The transcript discusses the impact of COVID-19 on holiday travel and economic activities in China. It highlights the challenges faced by local authorities in balancing outbreak containment with economic growth. The services sector, particularly travel, is expected to be heavily impacted during the Labor Day holiday. Revised GDP growth forecasts indicate a significant slowdown due to ongoing COVID-19 policies. Corporates are also warning of reduced demand and supply chain issues affecting their operations.

What dilemma are local authorities in China facing during the COVID-19 pandemic?

• Deciding between lockdowns and vaccinations

• Balancing outbreak containment with economic growth

• Choosing between local and national policies

• Managing public opinion and media coverage

Which sector has been most affected by the COVID-19 restrictions in China?

• Manufacturing

• Agriculture

• Services

• Technology

By what percentage is road traffic expected to drop during the Labor Day holiday compared to the previous year?

• 62%

• 77%

• 25%

• 50%

What is the revised GDP growth forecast for China due to the zero COVID policy?

• 2.8%

• 4.2%

• 5.5%

• 3.6%

Which multinational company warned about weaker demand in China?

• Sony

• Samsung

• Apple

• Caterpillar