- US finalizes up to $6.6 bn funding for chip giant TSMC
- Scholz urges Ukraine talks in first call with Putin since 2022
- Zverev reaches ATP Finals last four, Alcaraz on brink of exit
- Lebanon rescuer picks up 'pieces' of father after Israel strike
- US retail sales lose steam in October after hurricanes
- Zverev reaches ATP Finals last four with set win against Alcaraz
- Kerevi back for Australia against Wales, Suaalii on bench
- Spate of child poisoning deaths sparks S.Africa xenophobia
- Comedian Conan O'Brien to host Oscars
- Rozner overtakes McIlroy and Hatton for Dubai lead
- Mourners bid farewell to medic killed in east Ukraine
- Gore says 'absurd' to hold UN climate talks in petrostates
- Hamas says 'ready for ceasefire' as Israel presses Gaza campaign
- Amorim says Man Utd is 'where I'm supposed to be'
- Japan hammer Indonesia to edge closer to World Cup spot
- Jeff Beck guitar collection to go under the hammer in January
- Veteran Ranieri has 'no time for mistakes' on Roma return
- Van Nistelrooy says he will 'cherish' Man Utd memories in farewell message
- IAEA chief tours sensitive Iran nuclear plants
- Pompeii rejects 'mass tourism' with daily visitor limit
- Jailed Russian poet could be 'killed' in prison, warns wife
- French court orders release of Lebanese militant held since 1984
- Global stocks struggle after Fed signals slower rate cuts
- UK economy slows, hitting government growth plans
- Primary schools empty as smog persists in Indian capital
- Palestinians turn to local soda in boycott of Israel-linked goods
- Typhoon Man-yi bears down on Philippines still reeling from Usagi
- UK growth slows in third quarter, dealing blow to Labour government
- Chris Wood hits quickfire double in NZ World Cup qualifying romp
- Markets struggle at end of tough week
- China tests building Moon base with lunar soil bricks
- Film's 'search for Palestine' takes centre stage at Cairo festival
- Oil execs work COP29 as NGOs slam lobbyist presence
- Gore says climate progress 'won't slow much' because of Trump
- 'Megaquake' warning hits Japan's growth
- Stiff business: Berlin startup will freeze your corpse for monthly fee
- Wars, looming Trump reign set to dominate G20 summit
- Xi, Biden attend Asia-Pacific summit, prepare to meet
- Kyrgios to make competitive return at Brisbane next month after injuries
- Dominican Juan Luis Guerra triumphs at 25th annual Latin Grammys
- Landslide win for Sri Lanka president's leftist coalition in snap polls
- Australian World Cup penalty hero Vine takes mental health break
- As Philippines picks up from Usagi, a fresh storm bears down
- Tropical Storm Sara pounds Honduras with heavy rain
- Pepi gives Pochettino win for USA in Jamaica
- 'Hell to heaven' as China reignite World Cup hopes with late winner
- Rebel attacks keep Indian-run Kashmir on the boil
- New Zealand challenge 'immense but fantastic' for France
- Under pressure England boss Borthwick in Springboks' spotlight
- All Blacks plan to nullify 'freakish' Dupont, says Lienert-Brown
RIO | 1.08% | 61.09 | $ | |
CMSC | 0.04% | 24.56 | $ | |
NGG | 0.22% | 62.509 | $ | |
SCS | 0.38% | 13.32 | $ | |
CMSD | 0.39% | 24.4525 | $ | |
GSK | -2.74% | 33.095 | $ | |
BP | 0.27% | 29.13 | $ | |
BTI | 1.87% | 36.165 | $ | |
RBGPF | 2.67% | 61.84 | $ | |
RYCEF | 0.88% | 6.85 | $ | |
BCC | -0.21% | 140.05 | $ | |
JRI | -0.2% | 13.05 | $ | |
AZN | -2.14% | 63.68 | $ | |
BCE | -0.92% | 26.595 | $ | |
VOD | 1.08% | 8.775 | $ | |
RELX | -3.42% | 44.43 | $ |
US envoy sees China lockdowns extending into 2023
China is likely to keep imposing sweeping lockdowns into 2023, the US ambassador said Thursday, as he cautioned that the zero-Covid strategy was hurting business.
"I think we are going to have to live with this for a long time. My own assumption is that we'll see the continuation of zero-Covid probably into the beginning of 2023," Ambassador Nicholas Burns told the Brookings Institution.
Burns, speaking to the Washington think tank by video link from Beijing, said that the lockdowns were disrupting supply chains and making foreign businesses wait before considering further investment.
"This is just too important a market for countries to leave, so we don't see a lot of companies leaving lock, stock and barrel," Burns said.
But from his conversations with US businesses, Burns said, "I think there is a lot of hesitancy to invest in future obligations until they see the end of this."
The American Chamber of Commerce in Shanghai in a recent survey said that one quarter of US firms were scaling back investment plans and nearly all were dropping revenue forecasts after the lockdown in the business hub.
Covid-19 was first detected in the final days of 2019 in the Chinese metropolis of Wuhan, which saw rare public displays of anger over the government's failure to stop its spread.
Beijing has since vowed to defeat the global pandemic and is the only major economy trying to prevent any cases, imposing mass testing requirements and forcing millions of people at a time to stay at home.
Burns said that the lockdowns also impeded diplomacy with China, whose relationship with the United States he recently described as falling to the lowest point since the establishment of ties a half-century ago.
"It's difficult to convince any of my colleagues in Washington to come here if I tell them that if they do it they've got to quarantine for 14 days before they can have a single meeting," he said.
M.King--AT