Chinese President Xi Jinping warned officials that their response to the coronavirus outbreak had already harmed the nation’s economy.
Local authorities told to reign-in the scale of their response.
China’s central bank declares the country’s economic health must be the first priority.
China’s President Xi Jinping reportedly told staffers to curb their efforts on the coronavirus response or the country’s economy would suffer.
China’s Xi: Coronavirus Response Harmed Economy
Reuters reports that Xi told officials during a Feb 3rd Politburo meeting that their response had already harmed the economy, according to Reuters sources. Two insiders who wished to remain anonymous said Xi told them to “refrain from more restrictive measures” when addressing the outbreak.
That’s in reference to the large-scale closing down of buildings, businesses and other enterprises – both in the public and private sectors. The closing down of factories, railways, roads and schools appears to have already shaken the nation’s economic health.
But the vice-governor China’s central bank believes the economy must come first. Pang Gongsheng said on Friday:
“In the context of the epidemic and the downward pressure on the economy, it is more important to maintain economic growth.”
Now China’s bureaucrats must balance their economic duties with their humane responsibilities. The pressure is on them in the form of free-speech protests by China’s populace, particularly among its younger generations.
Greg Thomson is a blockchain and cryptocurrency journalist who wades through the dirt so you don't have to. He contributed to numerous crypto news outlets before joining CCN.com and Hacked in 2018. Based in Glasgow, Scotland.