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One question that has been asked ever since economies were thrown into steep decline at the start of national lockdowns was how quickly they would start to recover when the lockdowns were eased. With most countries re-opening large parts of their service sectors in recent weeks, we will soon have a chance to start finding out. And we believe that the world might be pleasantly surprised.
If there was any remaining doubt about the intentions of President Xi’s administration in dealing with the unrest in Hong Kong, the new security law that China has just imposed on the SAR should dispel them. The nature of the Xi government is now crystal clear; the remaining question is why they have chosen this route.
As the lockdowns continue to ease and as life begins to return to something more like normality – although it is still a very strange normal in many countries – one simple question will be asked with at first hesitancy, but then we think with growing insistence: “Was it worth it?”