SINGAPORE – Economic activity in China declined for the third straight month in May, albeit at a slower pace than in April, according to surveys of businesses and factories.
But while surveys suggest the economy is beginning to emerge out of a severe recession as Covid-19 restrictions are eased, economists are skeptical about a major revival. They say, as long as the government provides jobs, growth will be sluggish. Zero tolerance approach towards virus outbreak Including mass lockdowns and business closures.