Economics
China’s Cautious Economic Reboot Is a Warning for the World
- Better industrial data may be temporary as orders wane
- Retail, restaurants seeing only cautious return as public wary
Visitors attend the reopening of the Walt Disney Co. Shanghai Disneyland on May 11.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China has a lesson for the world: An economy is harder to reboot than it is to shut down.
Fresh data for the month of April, covering a period when the government pushed hard to reopen the economy as the coronavirus came under control, show that retail sales continue to fall as consumers shun restaurants and curb spending on other non-essential items.