Everyone is a lot more casual. You have a lot fewer galas and things to go to," said Nicholas Lieou, Chow Tai Fook's design lead for high jewelry.
The article from AOL Finance discusses the challenges faced by China in returning to normalcy after the strict "zero-COVID" policy was abruptly lifted in December. Despite the end of lockdowns, mandatory quarantines, and mass testing, the transition has been rocky. The sudden policy shift led to a surge in infections, overwhelming hospitals and funeral homes, and causing public discontent due to the lack of preparation for such a drastic change. Economic recovery has been slow; consumer spending has not rebounded as expected, with many businesses, especially in sectors like hospitality and retail, struggling to regain their footing. The article highlights the ongoing issues like high youth unemployment, a property market slump, and regulatory crackdowns on tech companies, which continue to dampen economic prospects. Furthermore, there's a noted increase in public anxiety and a cautious approach to resuming normal activities, with many people still wary of large gatherings and travel. The piece concludes by noting that while life in China is technically "back to normal," the reality on the ground suggests a long road to recovery, marked by economic, social, and psychological adjustments.
Politics & Government
