Teleconference on stabilizing the economy; South Pacific; Taiwan
Today’s Essential Eight items:
Li Keqiang chairs teleconference on stabilizing the economy - The message was grim to the likely 100,000 or so cadres in attendance. There is no way they hit 5.5% GDP growth in 2022, they may not even have growth in Q2, and while there may be “extraordinary measures to stimulate the economy” as one provincial Party secretary is reported to have said, it is not clear they can really get it stimulated so long as economic activity in large areas can be halted overnight due to Covid lockdowns. And the Omicron variant that has caused so much trouble in China in the last couple of months is not nearly as transmissible as the one that is rampaging through the US right now, and that variant will inevitably get into China. I have no idea how we are not in for a long, brutal summer at least.
More measures to support the economy
State Council wants to squeeze more infrastructure investment using existing infrastructure
Xi meets heroes and role models from public secur…