Standing Committee meeting signals concerns;…

Xi chaired another Standing Committee meeting, again focused on epidemic control and restarting the economy. The readout from this meeting makes it sound like the leadership is increasingly concerned about the risks of a second wave of infections as well as the deteriorating global environment which will have a significant drag on any PRC economic recovery. The leadership has been quite disciplined in pushing economic stimuli but at some point they are going to have to get much more aggressive.

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