News about Guangzhou citizens physically protesting covid lockdowns. To be fair, such a prolonged lockdown would drive most people insane. I have friends who after a few weeks of quarantine start feeling depressed. I can't imagine what almost 3 years of covid-zero policy would've done to the psyches of the Chinese.
This situation could pan out two ways - either the government (which does not respond well to disobedience) doubles down and arrests everyone involved, or they accelerate their pace of reopening. I think the latter is more likely. Most Chinese are law-abiding and authority-fearing. This protest is unlikely to turn into widespread chaos. Since the government is planning to reopen anyway, it would be easier to increase the pace of reopening and to tilt its messaging towards "hang in there, you'll be free soon". Doubling down on covid-zero could incite more riots. Besides, people are unhappy not because they can't travel overseas or hang out at malls:
Food shortages and difficulty getting timely medical treatment are some of the biggest complaints lodged by those locked into their homes to quell outbreaks.
Found this gem of a video from Neckar’s substack:
Learning for Analysts and Future Portfolio Managers with Alix Pasquet III
Fantastic lessons and mental models by Alix Pasquet III of Prime Macaya Capital.