Reuters shed light on how Chinese beef hotpot restaurant chain Baheli, which makes only a third of the revenue it earned before the COVID-19 pandemic, has no intention to resume its expansion, even if authorities bring new infections to zero. The problem, founder Lin Haiping says, is that consumers would not regain their confidence in a hurry, as China’s pursuit of its “zero-COVID” strategy, against a global trend of living with the virus, has upended their lives.
The post Reuters reveals crisis of confidence stifles China’s economic recovery appeared first on Reuters News Agency.
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