The huge
Jumbo
restaurant junk sank in the South China Sea, its collapsed owners announced in Hong Kong.
Immediately, some sarcastic Chinese netizens saw in the sinking of this iconic seafood establishment in Aberdeen Bay a dismal metaphor for the state of the Chinese economy, facing a brutal slowdown, at the hour of zero Covid imposed with an iron fist by President Xi Jinping.
The merciless confinements of forty-five major cities, including Shanghai, the country's largest metropolis, and 373 million inhabitants, i.e. a quarter of the Chinese population, weighing a total of 40% of the national GDP according to Nomura, have brought a a severe blow to the growth of the world's second largest economy.
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In Shanghai, the zero Covid strategy sows anger and doubt
In April, industrial added value fell by 2.9% over one year, retail sales by 11%, real estate by 39%, and car sales fell by 47%.
Only the exports of the factory of the world resist, despite the congestion of the ports paralyzed by…
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