China's Economy Feels the Impact of Covid Zero Measures

The video discusses the impact of China's COVID-0 policy on its economy, highlighting significant declines in industrial output and consumer spending. Analysts note a severe drop in retail sales and rising unemployment, particularly among youth. While some recovery signs emerge in Shanghai, the sustainability of the COVID-0 policy is questioned. The central bank has lowered borrowing costs for first-time homebuyers, addressing the real estate crunch. President Xi Jinping emphasizes the need for economic support, suggesting more measures are expected to stabilize the economy.

What was one of the major economic impacts of China's COVID-0 policy?

• Increase in industrial output

• Decrease in unemployment rates

• Rise in consumer spending

• Significant drop in retail sales

Which age group experienced a record high in unemployment due to the economic downturn?

• 25-34 years

• 16-24 years

• 35-44 years

• 45-54 years

What positive development was reported in Shanghai regarding the economic recovery?

• Reduction in youth unemployment

• Increase in industrial output

• Reopening of shops and barbers

• Complete lifting of lockdowns

What action did the central bank take to address the economic slowdown?

• Increased interest rates

• Reduced borrowing costs for first-time homebuyers

• Implemented new taxes

• Increased lending rates

What was a key focus of President Xi Jinping's speech regarding economic measures?

• Raising consumer taxes

• Reducing risks in the economy

• Decreasing government spending

• Increasing industrial output