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Zero-covid costs spread

Chinese leader Xi Jinping’s decision to stick with a zero-covid policy that worked in 2020 but has not stopped the spread of the Omicron variant has brought lockdowns in Shanghai, Shenzhen and Beijing among 45 mainland cities, affecting nearly 400 million people. The economic damage to China is now spilling over to U.S., Europe, Japan and others in a global economy struggling with shortages, inflation and the Ukraine conflict.