January 16, 2021
China’s battle with increasing coronavirus caseloads hitting ten-month highs has undoubtedly clouded the economic recovery while officials have lockdown more than 28 million people across multiple municipalities, reported Reuters.
Hebei officials have put three cities – Shijiazhuang, Xingtai, and Langfang – into lockdowns last week to mitigate the virus from spreading further. Beijing authorities expanded screening and prevention measures as cases continue to rise.
Last Wednesday, Heilongjiang province declared a virus pandemic emergency. Also, the city of Suihua, in west-central Heilongjiang province, has put 5.2 million people under lockdown.
One possible reason behind increasing caseloads in China could be due to frigid temperatures as the polar vortex splits into two and dumps Arctic air into certain parts of the country. Goldman Sachs recently told clients that when temperatures dip, expect virus outbreaks to accelerate – and that is exactly what is happening in China.