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China rolls back some of its pandemic control measures

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China has announced it will begin rolling back some of its Covid-19 measures after a string of protests

Chinese officials will reduce the scale of lockdowns to individual apartment floors and buildings, rather than locking down neighbourhoods under a new Covid-19 strategy.

It is part of Beijing’s latest ploy to soften the blow for its 1.412 billion residents, who have been abiding by Covid-zero policies since the start of the pandemic.

Chinese officials will also allow asymptomatic Covid-19 cases to quarantine at home.

The decision follows widespread protests across major Chinese cities.

Is China ready to open up?

More than half of China’s population are planning to travel abroad, according to the U.S. consultancy firm Oliver Wyman.

Analysts have found Chinese tourists will travel abroad for periods ranging from several months to over a year.

However, Chinese people feel somewhat anxious about travelling overseas. The survey, which interviewed 4,000 respondents, found the top concern among prospective travellers was the fear of contracting Covid-19.

They also remain worried about changes to domestic re-entry guidelines.

“People have become cautious,” said Imke Wouters, who is a retail and consumer goods partner at the firm.

“So even when they can travel, we don’t think they will come back right away.”

Over half (51%) of those surveyed are planning to delay their international travel plans altogether. However, tourists are still expected to travel within China and to nearby destinations like Hong Kong.

Over eight in 10 respondents (85%) believe there will be a strong recovery of domestic travel as soon as conditions allow.

What is the Covid-19 situation like in China?

In October, China’s President Xi Jinping secured a record-breaking third term as leader.

Many had hoped this would also mark the beginning of China’s post-COVID era.

China was once the world’s largest outbound tourism market.

However, the Covid-zero strategy has seen nationwide protests over the measures, which have been described as “draconian” by Human Rights Watch.

Consumer confidence also remains a challenge.

Around 83 per cent of executives who responded to the Oliver Wyman survey said there is “a long road to consumer confidence recovery”.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Why “Stagflation” will be the greatest financial threat of 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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Will Tesla’s supercharger layoffs eventually payoff?

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Tesla CEO Elon Musk dissolves supercharging team, leaving customers stranded.

Elon Musk’s decision to disband Tesla’s electric vehicle charging team has left customers concerned about the future of the company’s charging infrastructure.

The move comes as a surprise to many, considering Tesla’s commitment to expanding its charging network to support its growing fleet of EVs #featured

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TikTok’s fate in the United States

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TikTok’s fate in the United States has never been more in doubt.

Congress approved a bill, which President Joe Biden signed into law that gives its Chinese parent company two options: sell it to an approved buyer or see it banned.

But now, the owners of the popular social media app says they’re preparing to challenge the statute in court.

Andy Keiser a Senior Fellow at the National Security Institute, and a Former Senior Advisor for the House Intelligence Committee joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #business #socialmedia #TikTok #TikTokban #nationalsecurity

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