Official Chinese statistics should always be viewed with a healthy dose of skepticism.
However, what was announced on Friday about the economic growth of the People's Republic cannot be completely wrong.
The expansion of the world's second largest economy slowed significantly in the second quarter of 2022.
Frightened minds, often to be found on the financial markets, would even speak of a dramatic slump.
Even the very modest expectations were undercut by reality.
Maintaining power comes before wealth
There are usually many reasons for something like this.
In this case, however, the only reason is "zero Covid policy".
More precisely, the sole culprit in the burglary is Xi Jinping.
And this is the problem.
The head of state and party leader claims that he has the only correct opinion on all issues at all times.
In a few months he wants to be confirmed in office by the party congress.
In doing so, he would override a rule introduced after the Mao Tse-tung era.
This states that party leaders should serve only two terms of five years each.
Not everyone in China approves of Xi's suggestion, not even everyone in the party.
As he believes, he cannot now admit a mistake like “zero Covid” is one.
The leader's power over everything, including the economic well-being of his own country.