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Xi Puts Ideology Before Economy With Market-Busting Lockdowns

  • China president ties himself to disruptive Covid Zero strategy
  • Beijing has touted policy as superior to those in U.S., Europe
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Bejing Expands Covid Testing Amid Fears of Lockdown
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China’s worst equity selloff since early 2020 reflects a growing concern about President Xi Jinping: He can’t afford the political costs of shifting from a Covid Zero strategy that is pummeling the economy. 

In Shanghai, a weekslong Covid-19 lockdown got even worse, with workers in hazmat suits fanning out over the weekend to install steel fences around buildings with positive cases. In Beijing, the process is just getting started, as authorities on Monday began shutting down a bustling district in the capital to quash fresh outbreaks and ordered mandatory testing elsewhere.