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Tag: zerocovid

  • China is not only asserting itself geopolitically but openly questioning the U.S.’s central role on the world stage

    China is not only asserting itself geopolitically but openly questioning the U.S.’s central role on the world stage

    It’s been a busy few months for China — and sobering ones for the United States.

    Days later, Beijing announced it had brokered a deal that will see Persian Gulf rivals Saudi Arabia and Iran normalize relations, a shocking diplomatic coup in an area long dominated by the United States. Xi was reportedly personally involved in the negotiations.

    “This landmark agreement has the potential to transform the Middle East by realigning its major powers,” the journal Foreign Affairs declared, adding that the gambit is “weaving the region into China’s global ambitions. For Beijing, the announcement was a great leap forward in its rivalry with Washington.”

    But the biggest news came two weeks ago, when Xi flew to Moscow and met with Vladimir Putin, just days after the International Criminal Court in the Hague issued an arrest warrant for the Russian president on charges of war crimes in Russia’s year-old invasion of Ukraine.

    ‘China has seen a space where it is hard for the West to really block off — heading into issues [that the Western powers] feel are too intractable or too toxic to touch and trying to demonstrate that there might be a different way to mediate or involve yourself in these problems.’


    — Kerry Brown, King’s College London

    “There are changes coming that haven’t happened in 100 years,” Xi told Putin as the self-described “dear friends” concluded their talks. “When we are together, we are driving these changes.”

    China’s assertiveness comes after three years of COVID restrictions that saw the country close off from the world in an attempt to tame the virus, a policy that was suddenly scrapped in December.

    “It has sunk in that China needs friends. It has ended up too isolated, and that has cut across the narrative of the Xi third term, which was due to be somewhat more sunny,” Kerry Brown, director of the Lau China Institute at King’s College London, told MarketWatch.

    Others agreed. “China certainly is exiting a period of diplomatic isolation during the height of COVID,” said Victor Shih, the Ho Miu Lam chair in China and Pacific relations at the University of California, San Diego, and an expert on Chinese elite politics.

    That exit has been swift, with Beijing taking concrete steps toward a belief that previously had been mostly rhetoric — that the U.S.-led global system is not the only path.

    “China has seen a space where it is hard for the West to really block off — heading into issues [that the Western powers] feel are too intractable or too toxic to touch and trying to demonstrate that there might be a different way to mediate or involve yourself in these problems,” Brown said.

    Those sentiments are increasingly pervasive across China, particularly in government, academia and media.

    “The U.S., which is accustomed to enjoying the spotlight, is now puzzled for it never thought that one day China would be more popular than it,” state tabloid Global Times said in a front-page story last Thursday.

    Wang Yong, director of the Center for International Political Economy and the Center for American Studies at Peking University, told MarketWatch, “The rise of China as a great power is facing an increasingly complicated situation, mainly because U.S. elites judge China as the foremost strategic and systemic threat, and attack China’s development.”

    Wang highlighted concerns over Washington’s policy toward self-ruled Taiwan, which Beijing claims as a renegade province.

    In fact, Taiwanese President Tsai Ing-wen is stopping over in the U.S. this week after visits to the island’s few remaining allies in Central America. Beijing has threatened for weeks against her being welcomed by any high-level American officials.

    Those threats turned to ire on Monday, when Republican House Speaker Kevin McCarthy said he would meet with Tsai on Wednesday in California. China said this could lead to “serious confrontation” and that Beijing would “resolutely fight back” — without giving specifics.

    ‘Why is it assumed we live in a U.S. world?’


    — Alan Ma, graduate student, Tsinghua University.

    “Gradually deviating from the past promise of ‘one China,’ promoting Taiwan independence and using Taiwan to contain China’s development — these could trigger a China-U.S. war,” Peking University’s Wang said from Beijing.

    See: U.S. tells China not to ‘overreact’ to Taiwan leader’s stopover

    Average citizens including younger people expressed frustration with U.S. policy.

    Taiwan’s president, Tsai Ing-wen, arrives on Thursday at her hotel in New York.


    AP/John Minchillo

    “Why isn’t it China’s time to lead? Why is it assumed we live in a U.S. world?” asked 27-year-old Alan Ma, a graduate student in politics at Beijing’s Tsinghua University.

    Other areas are reaching heightened levels of tension. China’s military said last month it drove out an American destroyer ship that had “illegally” entered the South China Sea. And the CEO of Chinese-owned video sensation TikTok appeared before U.S. lawmakers in hopes of preventing an American ban on the app over national-security concerns.

    Context: Biden White House and bipartisan group of 12 senators back TikTok ban

    Also: TikTok is the next Chinese product the U.S. could shoot down

    But China’s rise, however rapid, must be put in a realistic context, experts said.

    “I don’t think that we can say China has entered a new period as a global power until it has deployed large troop contingents overseas on its own,” said UC San Diego’s Shih.

    Tanner Brown covers China for MarketWatch and Barron’s.

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  • China predicts COVID ‘normalcy’ within months, but experts forecast more than 1 million deaths

    China predicts COVID ‘normalcy’ within months, but experts forecast more than 1 million deaths

    China’s closely watched reopening is now causing concern as the number of new COVID-19 cases grows and the country reports the first deaths in several weeks. 

    Much of the news out of China this week is in stark contrast to zero COVID, the strict policy that was in place up until a month ago. In response to widespread protests, authorities have lifted many of the restrictions that limited how people in China were able to move, work and treat their illnesses.

    Now some local governments are encouraging people with mild COVID to continue to work. Beijing reported five COVID deaths on Tuesday and two on Monday — the first COVID fatalities to be reported in the country in weeks. Cities like Guangzhou are expanding “fever clinics” that can handle up to 110,000 patients a day, up from 40,000. And basic cold medicines are in short supply.

    Chinese authorities have reportedly told state media that the surge is part of an “exit wave” of cases, according to the Financial Times. A headline from Monday’s China Daily, an English-language news outlet in China, reads: “Virus experts expect normalcy by spring.”

    Experts have predicted that millions of people in China will get sick, and up to 1.6 million people could die in 2023.

    COVID news to know: 

     In the U.S., it’s still hard to find children’s cold medications. CVS Health
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    and Walgreens Boots Alliance
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    this week put limits on purchases of children’s cold and flu medicines in response to high demand amid a surge in cases of pediatric COVID, influenza and respiratory syncytial virus, or RSV, according to the Wall Street Journal. This includes medications like acetaminophen and ibuprofen. 

    Testing positive a second or third time may worsen long-COVID symptoms, according to a study published in Nature in November. However, it can be hard to predict how each new infection will affect an individual patient. “It makes sense that repeat infections would not be beneficial to a person’s health,” one doctor told WebMD. “But I think it’s really hard to know what the additional risk of each subsequent infection would be because there are all sorts of other things in the mix.” 

    COVID hospitalizations are rising in the U.S. There are about 40,000 people hospitalized with COVID right now, a figure that is 11% higher than it was two weeks ago, according to the most recent update of a New York Times tracker. The numbers of new infections and COVID-related deaths are also rising this month. The seven-day daily average of new cases is about 66,000, while about 413 people are dying each day.

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  • Omicron subvariants are now dominant in the U.S. as COVID cases tick up and New York City becomes a hot spot

    Omicron subvariants are now dominant in the U.S. as COVID cases tick up and New York City becomes a hot spot

    Omicron subvariants continued to account for more new cases of COVID-19 in the U.S. in the latest week than did BA.5, according to the latest data from the Centers for Disease Control and Prevention.

    BQ.1 and BQ.1.1, which are sublineages of BA.5, accounted for 67.9% of cases in the week through Dec. 10, while BA.5 accounted for 11.5%, the data show.

    Last week, BQ.1.1 and BQ.1 accounted for 62.8% of all cases in the U.S., while BA.5 accounted for 13.8%.

    In the New York region, which includes New Jersey, Puerto Rico and the U.S. Virgin Islands, the numbers were even higher, with BQ.1 and BQ.1.1 accounting for 73.3% of new cases, compared with 10% for BA.5.

    In the previous week, BQ.1 and BQ.1.1 accounted for 72.4% of all cases, compared with 6.9% for BA.5.

    New York City is again emerging as a hot spot for COVID, according to a New York Times tracker, which shows cases up about 60% in recent weeks and hospitalizations at their highest level since February. 

    The test-positivity rate in New York City stood at 13% on Thursday, the tracker shows.

    Overall, known U.S. cases are up 53% from two weeks ago. The daily average for hospitalizations is up 30% at 37,066, while the daily average for deaths is up 35% to 460.

    For now, the numbers remain far below the peaks seen last winter, when omicron first hit, but with flu and other respiratory infections currently sweeping the country and affecting young children, experts are warning people to take precautions.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • A rash of COVID-19 cases in schools and businesses was reported by social-media users Friday in areas across China. This comes after the ruling Communist Party loosened its antivirus rules as it tries to reverse a deepening economic slump, the Associated Press reported. Official data showed a fall in new cases, but after the government on Wednesday ended mandatory testing for many people, those data no longer cover large parts of the population. That was among the dramatic changes aimed at gradually emerging from the zero-COVID restrictions that have confined millions of people to their homes and sparked protests and demands for President Xi Jinping to resign.

    • U.S.-listed shares of China Jo-Jo Drugstores Inc.
    CJJD,
    +51.20%

    rallied on Friday as the stores filled with customers buying cold medicines after COVID restrictions were eased, MarketWatch’s Jaimy Lee reported. The stock was up 22%. The company, which is based in Hangzhou, China, operates drugstores and an online pharmacy in China. It is also a wholesale distributor of pharmacy products and grows and sells herbs used in traditional Chinese medicine. 

    Some movie theaters in China reopened and COVID-testing booths were dismantled ahead of an announcement by authorities on Wednesday that will scrap most testing and quarantine requirements. The changes come after nationwide protests against Beijing’s zero-COVID policy. Photo: Ng Han Guan/Associated Press

    • Pfizer
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    -0.12%

    and German partner BioNTech
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    -0.88%

    have received fast-track designation from the U.S. Food and Drug Administration for a single-dose mRNA-based vaccine candidate targeting both COVID and flu. The companies have already announced that they are in early-stage trials to review the safety and immunogenicity of their combined vaccine in healthy adults. The vaccine will target the BA.4 and BA.5 omicron sublineages, which have become dominant globally, as well as four different flu strains recommended for use in the Northern Hemisphere by the World Health Organization. If approved, the vaccine would be the first to target both COVID and flu.

    • A bill to rescind the COVID vaccine mandate for members of the U.S. military and to provide nearly $858 billion for national defense was passed by the House on Thursday as lawmakers scratch one of the final items off their yearly to-do list, the AP reported. The bill provides about $45 billion more for defense programs than President Joe Biden requested, the second consecutive year Congress has significantly exceeded his request, as lawmakers seek to boost the nation’s military competitiveness with China and Russia. The bill is expected to easily pass the Senate and then be signed into law by Biden.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 648 million on Friday, while the death toll rose above 6.65 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 99.4 million cases and 1,084,236 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.6 million people living in the U.S., equal to 68.9% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 42 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 13.5% of the overall population.

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  • U.S. COVID cases are climbing again as new omicron variants spread

    U.S. COVID cases are climbing again as new omicron variants spread

    COVID-19 cases and hospitalizations in the U.S. are rising and intensive-care-unit beds are being filled again, in a trend that may spell an end to the stable period the country experienced during the fall months.

    The daily average of new cases was up 22% on Thursday from two weeks ago, to 49,070, according to a New York Times tracker. Cases are rising in 40 states, led by Oklahoma, where they are up 89% from two weeks ago.

    The daily average for hospitalizations is up 21% from two weeks ago to 33,708, although as always, the trend is not uniform across the nation. Louisiana is the state with the highest increase in hospitalizations, up 109% from two weeks ago, followed by California, where they have climbed 66%.

    Visits to the ICU are up 17%, while test-positivity rates are up 29%, to 10%, the tracker shows. On a brighter note, the daily average for deaths is down 3% to 274. 

    Experts are warning that new omicron subvariants are on the rise and are quickly replacing earlier ones.

    The most recent data release from the Centers for Disease Control and Prevention showed that the BQ.1.1 and BQ.1 sublineages of BA.5 accounted for 62.8% of all cases in the U.S. in the week through Dec. 3, exceeding the 13.8% of cases caused by BA.5.

    That was up from 57.3% of cases in the week through Nov. 26, when 19.4% of cases were caused by BA.5.

    In the New York region, which includes New Jersey, Puerto Rico and the U.S. Virgin Islands, those numbers were even higher, with BQ.1 and BQ.1.1 accounting for 72.4% of all cases, compared with 6.9% for BA.5.

    That was up from the prior week, when BQ.1 and BQ.1.1 accounted for 70.8% of all cases, compared with 10.4% for BA.5.

    See now: Elon Musk may want employees back in the office, but 29% of Americans still work from home

    For now, the new sublineages have not been shown to be likely to cause more severe disease than earlier ones, but they are more transmissible, which is why they have become dominant.

    Experts continue to urge people to get their updated booster, which is the best protection against developing severe COVID or dying of it.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Local governments in China are facing a new challenge in the battle against COVID: They are running out of cash needed to finance mass testing and enforce quarantines, CNN reported on Friday. The zero-COVID policy kept China out of recession in 2020, but now the bills are mounting, placing financial strain on municipal authorities across the world’s most populous nation, said CNN. For nearly three years, local governments have borne the brunt of enforcing pandemic controls. 

    • Former NBA star Jeremy Lin, who plays for a Chinese team, was fined 10,000 yuan ($1,400) for criticizing quarantine facilities, according to China’s professional league and a news report Friday, the AP reported. The ruling Communist Party is trying to crush criticism of the human cost and disruption of its zero-COVID strategy, which has confined millions of people to their homes.

    Large protests erupted across China as crowds voiced their frustration over nearly three years of COVID-19 controls. Here’s how a deadly fire in Xinjiang sparked domestic upheaval and a political dilemma for Xi Jinping’s leadership. Photo: Thomas Peter/Reuters

    • Formula One confirmed Friday that the Chinese Grand Prix will not take place in 2023, making it the fourth year in a row the race has been canceled because of the coronavirus pandemic, the AP reported separately. “Formula One can confirm, following dialogue with the promoter and relevant authorities, that the 2023 Chinese Grand Prix will not take place due to the ongoing difficulties presented by the COVID-19 situation,” Formula One said in a statement.

    • German doctors are warning that pediatric units are stretched to the breaking point in some hospitals in part due to rising cases of respiratory infections among infants, the AP reported. The intensive-care association DIVI said the seasonal surge in cases of respiratory syncytial virus and a shortage of nurses was causing a “catastrophic situation” in hospitals. RSV is a common, highly contagious virus that infects nearly all babies and toddlers by age 2, some of whom can fall seriously ill. Experts say the easing of coronavirus pandemic restrictions means RSV is currently affecting a larger number of babies and children whose immune systems aren’t primed to fend off the infection.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 644.1 million on Friday, while the death toll rose above 6.63 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.9 million cases and 1,081,147 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.4 million people living in the U.S., equal to 68.8% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 39.7 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 12.7% of the overall population.

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  • IMF head joins chorus calling on China to adapt COVID strategy as officials pledge to boost vaccinations among elderly

    IMF head joins chorus calling on China to adapt COVID strategy as officials pledge to boost vaccinations among elderly

    The head of the International Monetary Fund on Tuesday joined the chorus of people urging China to adopt a more targeted approach to the coronavirus pandemic as the country’s zero-COVID policy sparks protests over lockdowns and hobbles the world’s second-biggest economy.

    IMF Managing Director Kristalina Georgieva urged a “recalibration” of China’s tough “zero-COVID” approach, which is aimed at isolating every case, “exactly because of the impact it has on both people and on the economy,” as the Associated Press reported.

    See also: Some markets cheer as China vows to vaccinate more elderly. Analysts see positive movement by officials.

    Georgieva made the comments in an interview with the AP on Tuesday, after protests erupted in Chinese cities and in Hong Kong over the weekend, marking the strongest public dissent in decades.

    “We see the importance of moving away from massive lockdowns, being very targeted in restrictions,” Georgieva said Tuesday in Berlin. “So that targeting allows [China] to contain the spread of COVID without significant economic costs.”

    Georgieva also urged China to look at vaccination policies and focus on vaccinating the “most vulnerable people.”

    A low rate of vaccinations among the elderly is a major reason Beijing has had to resort to lockdowns, while the emergence of more-contagious variants has made it increasingly hard to halt the spread of the virus.

    In a rare show of defiance, crowds in China gathered for the third night as protests against COVID restrictions spread to Beijing, Shanghai and other cities. People held up blank sheets of paper, symbolizing censorship, and demanded the Chinese president step down. Photo: Kyodo News/Zuma Press

    Chinese health officials said Tuesday they are preparing a push to get more older people vaccinated, the Guardian reported. The National Health Commission told reporters it would target more vaccinations at people older than 80 and would reduce to three months the gap between basic vaccination and booster shots for elderly people.

    But experts, including President Joe Biden’s chief medical adviser, Anthony Fauci, have expressed concern that China’s homegrown vaccines are not effective enough. China has not yet approved the vaccines developed by Pfizer
    PFE,
    -0.39%
    ,
    BioNTech
    BNTX,
    +1.16%

    and Moderna
    MRNA,
    -0.17%

    for public use. The shortcomings of China’s vaccines have led Chinese doctors to warn that a lifting of the zero-COVID policy could lead to a massive surge in cases that could overwhelm China’s healthcare system.

    Now read: China’s strict zero-COVID policy isn’t worth the damage it does to its economy

    Meanwhile, with police out in force, there was little news of protests in Beijing, Shanghai or other cities on Tuesday, the AP reported separately.

    In the U.S., known cases of COVID are rising again, with the daily average standing at 41,755 on Monday, according to a New York Times tracker, up 6% from two weeks ago. Cases are rising in 22 states, as well as Guam and Washington, D.C., and are flat in Nebraska. They are rising fastest in Arizona, where they are up 82% from two weeks ago, followed by Michigan, where they are up 77%.

    The daily average for hospitalizations is flat at 28,135, while the daily average for deaths is up 6% to 314.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • The World Health Organization has issued an emergency-use listing for the Novavax
    NVAX,
    +6.19%

    protein-based COVID vaccine as a primary series for children ages 12-17 and as a booster for those ages 18 and older, Novavax said Tuesday. The WHO previously granted an emergency-use listing for the Nuvaxovid vaccine in adults ages 18 and older in December 2021, the company said. The new listing also paves the way for adults to get a booster shot of the vaccine about six months after completing the primary two-dose series.

    • New Jersey Gov. Phil Murphy, a Democrat, said Monday his administration has launched a promised review of its handling of the pandemic, the AP reported. The administration hired regional law firm Montgomery McCracken Walker & Rhoads — which has offices in the state as well as Delaware, Pennsylvania and New York — along with management consulting firm Boston Consulting Group to conduct the review. The review is expected to end with a report in late 2023, the governor said.

    • A Connecticut program that offered “hero pay” to essential workers at the peak of the pandemic got so many applicants that state lawmakers had to go back into session Monday to provide extra funding and put new limits on who could get the biggest bonuses, the AP reported. Initially, the state had expected to award about $30 million in bonuses to people who had to go to work, in person, in jobs in healthcare, food distribution, public safety and other essential services. But after getting 155,730 applications from eligible people, lawmakers realized they would have to either put more money in or slash benefits.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 641.8 million on Monday, while the death toll rose above 6.63 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.6 million cases and 1,079,477 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.4 million people living in the U.S., equal to 68.8% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 37.6 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 12.1% of the overall population.

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  • China’s zero-COVID strategy makes no sense and its homegrown vaccines are not ‘particularly effective,’ says  Fauci

    China’s zero-COVID strategy makes no sense and its homegrown vaccines are not ‘particularly effective,’ says Fauci

    Widespread protests across China over the government’s zero-COVID policy dominated pandemic headlines Monday, with Anthony Fauci, President Joe Biden’s chief medical adviser, weighing in with the view that the strategy does not make public-health sense. 

    China’s biggest challenge is low vaccination rates — and a vaccine that has not been “particularly effective at all” compared with the ones being used in the West that are made by Pfizer
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    and its German partner BioNTech 
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    and by Moderna
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    ,
    said Fauci, who is retiring next month.

    Fauci recalled that when New York hospitals were overwhelmed by COVID cases three years ago, the decision was made to introduce restrictions, such as social distancing and shutdowns, to help flatten the curve of infections. But he noted that it was a temporary move aimed at buying time to get more people vaccinated and move personal protective equipment to where it was needed.

    The first vaccine was distributed in the U.S. in December 2020.

    Read: U.S. stock futures fall as Chinese protests rattle markets, oil hits 2022 low

    “It seems that in China, it was just a very, very strict, extraordinary lockdown where you lock people in the house, but without, seemingly, any endgame to it,” said Fauci, who is also head of the National Institute of Allergy and Infectious Diseases. 

    Fauci said one mistake the Chinese government has made is to refuse outside vaccines. “But also, interestingly, they did not, for reasons that I don’t fully appreciate, protect the elderly by making sure the elderly got vaccinated,” he said. “So if you look at the prevalence of vaccinations among the elderly, that was almost counterproductive. The people you really needed to protect were not getting protected.”

    The protests have roiled financial markets and caused oil prices to erase their entire year-to-date gain. In a highly unusual move, protesters in Shanghai called for China’s powerful leader Xi Jinping to resign, an unprecedented rebuke as authorities in at least eight cities struggled Sunday to suppress demonstrations that represent a rare direct challenge to the ruling Communist Party, as the Associated Press reported.

    The BBC said reporter Ed Lawrence, who was arrested while covering protests, was beaten and kicked by police while in custody.

    “We have had no explanation or apology from the Chinese authorities, beyond a claim by the officials who later released him that they had arrested him for his own good in case he caught COVID from the crowd,” the broadcaster said in a statement. “We do not consider this a credible explanation.”

    For more, see: BBC says official explanation for journalist arrest in China is that he was detained to prevent contraction of COVID

    See also: China protests are biggest threat to Communist Party rule since Tiananmen Square, Kyle Bass says

    In a rare show of defiance, crowds in China gathered for a third night as protests against COVID restrictions spread to Beijing, Shanghai and other cities. People held blank sheets of paper, symbolizing censorship, and demanded that the Chinese president, Xi Jinping, step down. Photo: Noel Celis/Agence France-Presse/Getty Images

    In the U.S., known cases of COVID are rising again with the daily average standing at 41,997 on Sunday, according to a New York Times tracker, up 6% from two weeks ago.

    Cases are currently rising in 22 states, plus Washington, D.C., and Guam, but are falling elsewhere.

    The daily average for hospitalizations is up 4% to 29,053. Hospitalizations are rising in 23 states, the tracker shows.

    The daily average for deaths is up 4% to 330.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • The World Health Organization said Monday it is recommending the term “mpox” as a new name for monkeypox disease and that it would use both names for a year while “monkeypox” is phased out. “When the outbreak of monkeypox expanded earlier this year, racist and stigmatizing language online, in other settings and in some communities was observed and reported to WHO,” the agency said in a statement. “In several meetings, public and private, a number of individuals and countries raised concerns and asked WHO to propose a way forward to change the name.” The WHO has responsibility for assigning names to new — and exceptionally, to existing — diseases, under the International Classification of Diseases and the WHO Family of International Health Related Classifications through a consultative process that includes WHO member states, it explained. The new name was decided upon following consultations with global experts, it said. 

    Residents in Shanghai received the world’s first inhaled COVID-19 vaccine by taking sips from a cup. WSJ’s Dan Strumpf explains how the new type of vaccine works and what it means for China’s reopening. Photo: Associated Press/Shanghai Media Group

    • Unrest at one of China’s biggest manufacturing centers may cause a production shortfall this year of possibly 6 million Apple iPhone Pros, according to a source cited by Bloomberg. The Foxconn Technology 2354 facility in Zhengzhou, which makes the majority of Apple’s premium phones, has been struggling for weeks as workers rebel against COVID lockdown policies. Apple 
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    recently lowered its overall production target from 90 million units to 87 million units. However, Foxconn believes it can make up any shortfall from Zhengzhou in 2023.

    • A blood-thinning drug called Apixaban, which has been used for patients recovering from COVID, does not work and can cause major bleeding, according to new research reported by the Guardian. The anticoagulant, given to patients when they are discharged from a hospital after being treated for moderate or severe COVID, is widely used by hospitals across the U.K.’s National Health Service. However, the government-funded Heal-Covid trial has found that the drug does not work. Charlotte Summers, the chief investigator of the trial, said: “These first findings from Heal-Covid show us that a blood-thinning drug, commonly thought to be a useful intervention in the post-hospital phase, is actually ineffective at stopping people dying or being readmitted to hospital.”

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 641.6 million on Monday, while the death toll rose above 6.63 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.6 million cases and 1,079,199 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.4 million people living in the U.S., equal to 68.8% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 37.6 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 12.1% of the overall population.

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  • Manufacturing hub Guangzhou is latest Chinese city to face lockdowns as COVID cases rise

    Manufacturing hub Guangzhou is latest Chinese city to face lockdowns as COVID cases rise

    The southern Chinese manufacturing hub of Guangzhou is the latest to see lockdowns amid a surge in COVID-19 cases, as the government presses ahead with the strict zero-COVID policy that has frustrated citizens.

    The latest lockdowns have further disrupted global supply chains and sharply slowed growth in the world’s second-largest economy, as the Associated Press reported.

    Residents in districts encompassing almost 5 million people have been ordered to stay home at least through Sunday, with one member of each family allowed out once a day to purchase necessities, local authorities said Wednesday.

    The order came after the densely populated city of 13 million reported more than 2,500 new cases over the previous 24 hours.

    China has retained its strict zero-COVID policy despite relatively low case numbers and no new deaths. The country’s borders remain largely closed, and internal travel and trade is complicated by ever-changing quarantine regulations.

    Apple
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    and iPhone manufacturer Foxconn
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    -1.95%

    said over the weekend that restrictions are crimping production and will delay shipments of the high-end iPhone 14.

    For more, read: All eyes on China as Apple and Foxconn outline zero-COVID issues. Meanwhile, cases are rising again in the U.S.

    In the U.S., known cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 39,578 on Tuesday, according to a New York Times tracker, up 5% versus two weeks ago.

    As always, the increase in cases is not uniform across the nation. Some states are seeing sharp spikes, led by Nevada, where cases are up 96% from two weeks ago. Tennessee is second with cases up 69%, followed by Louisiana with cases up 68%, New Mexico, where they are up 62%, and Utah, where they have climbed 61%.

    Cases are up by a double-digit percentage in 22 states.

    The daily average for hospitalizations was up 3% to 27,713, while the daily average for deaths was down 14% to 308.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Novavax Inc.
    NVAX,
    -5.19%

    on Tuesday tweaked its full-year sales outlook to the low end of its expected range and reported a surprise quarterly loss, but sales for the COVID-19 vaccine maker were far better than expected. The company reported a net loss of $168.6 million, or $2.15 a share, compared with a loss of $322.4 million, or $4.31 a share, in the same quarter a year ago. Sales were $735 million, compared with $178.8 million in the prior-year quarter. Analysts polled by FactSet expected Novavax to earn $1.57 a share on revenue of $586 million.

    • A Food and Drug Administration advisory committee said this week that Veru Inc.’s
    VERU,
    +3.95%

    COVID treatment Sabizabulin demonstrated a clear clinical benefit with a favorable benefit-to-risk profile. Veru is seeking emergency-use authorization for treatment of hospitalized COVID-19 patients at high risk for acute respiratory distress syndrome.

    • A Massachusetts man who admitted to lying on his application for federal coronavirus business stimulus funds and using some of the $400,000 he received to pay his mortgage has been sentenced to 15 months in prison, federal prosecutors said, as the AP reported. In addition to the time behind bars, Adley Bernadin, 44, of Stoughton, was sentenced last week to three years of supervised release and ordered to forfeit more than $280,000, according to a statement from the U.S. attorney’s office.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 633.5 million on Monday, while the death toll rose above 6.60 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.8 million cases and 1,072,943 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.3 million people living in the U.S., equal to 68.5% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 26.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 8.4% of the overall population.

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  • All eyes on China as Apple and Foxconn outline zero-COVID issues. Meanwhile, cases are rising again in the U.S.

    All eyes on China as Apple and Foxconn outline zero-COVID issues. Meanwhile, cases are rising again in the U.S.

    China’s strict zero-COVID policy was making headlines Monday after Apple and iPhone manufacturer Foxconn said over the weekend that restrictions are crimping production and will delay shipments of the high-end iPhone 14.

    “We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models,” Apple
    AAPL,
    -0.82%

    announced in a Sunday evening press release. “However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products.” 

    Also read: Will Apple’s latest production issues destroy demand?

    Foxconn, meanwhile, which trades as Hon Hai Precision Industry Co.
    2317,
    -0.50%
    ,
    lowered its fourth-quarter guidance and said anti-COVID measures were affecting some of its operations in Zhengzhou, China, as Dow Jones Newswires reported.

    Foxconn said that the Henan provincial government had made it clear that it would fully support the company. Foxconn’s most advanced iPhone plant, located in the provincial capital of Zhengzhou, has been battling a COVID outbreak.

    Foxconn said it is working with the government to halt the outbreak and resume production at full capacity as quickly as possible.

    Workers at the world’s biggest assembly site for Apple’s iPhones walked out last week as Foxconn struggled to contain a COVID-19 outbreak. The chaos highlighted the tension between Beijing’s rigid pandemic controls and the need to keep production on track. Photo: Hangpai Xinyang/Associated Press

    Investors have been closely watching China for signs that its government would start to lift the tough pandemic restrictions that have been in place for almost three years. The Wall Street Journal reported Monday that the country’s leaders are considering steps but have not yet set a timeline.

    Chinese  officials have become concerned about the costs of their zero-tolerance approach to COVID, which has resulted in lockdowns of cities and whole provinces, crushing business activity and confining hundreds of millions of people to their homes for weeks and sometimes months on end.

    But they are weighing those concerns against the potential costs of reopening on public health and on support for the Communist Party. On Saturday, officials from China’s National Health Commission again reaffirmed their commitment to a firm zero-COVID strategy, which they described as essential to “protect people’s lives.”

    Still, there are plans in Beijing to further cut the number of days incoming travelers must quarantine in hotels from 10 to seven, followed by three days of home monitoring, the paper reported, citing people involved in the discussions.

    And officials have told retail businesses that they intend to reduce the frequency of PCR testing as soon as this month, partly because of the cost.

    In the U.S., known cases of COVID and hospitalizations are climbing again for the first time in a few months.

    The daily average for new cases stood at 39,954 on Sunday, according to a New York Times tracker, up 6% compared with two weeks ago. But cases are sharply higher in several states, led by Nevada, where they are up 96% from two weeks ago, followed by Tennessee, where they are up 69%; Louisiana, where they are up 68%; Utah, where they have climbed 61%; and New Mexico, where they are up 56%.

    Cases are climbing in 30 states and in Washington, D.C.

    The daily average for hospitalizations was up 2% to 27,419, while the daily average for deaths was down 11% to 320.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    The Centers for Disease Control and Prevention said the BQ.1 and BQ.1.1 variants accounted for 35.3% of new cases in the week through Nov. 5, up from 27.1% a week ago.

    The two variants accounted for 52.3% of all cases in the New York region, which includes New Jersey, Puerto Rico and the Virgin Islands, up from 42.5% the previous week. That was more than the BA.5 omicron subvariant, which accounted for 24.9% of new cases in the New York area in the latest week.

    The BA.5 omicron subvariant accounted for 39.2% of all U.S. cases, the data show.

    BQ.1 and BQ.1.1 were still lumped in with BA.5 variant data as recently as three weeks ago, because at that time, their numbers were too small to break out. BQ.1 was first identified by researchers in early September and has been found in the U.K. and Germany, among other places. 

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • BioNTEch SE
    BNTX,
    +2.84%
    ,
    the German biotech that has partnered with Pfizer
    PFE,
    -0.53%

    on a COVID vaccine, posted earnings early Monday, showing a roughly 50% drop in profit that sent its stock lower, despite beating consensus estimates. The Mainz-based company said it had invoiced about 300 million doses of its bivalent vaccine, which targets the omicron variant as well as the original virus. The company chalked up €564.5 million ($563.9 million) in direct COVID vaccine sales in the quarter, down from €1.351 billion a year ago. BioNTech raised the lower end of its full-year COVID vaccine revenue range to €16 billion to €17 billion, from a previous €13 billion to €17 billion.

    • Thousands of runners took to the streets of the Chinese capital on Sunday for the return of Beijing’s annual marathon after a two-year hiatus, the Associated Press reported. However, the good news was offset by anger about another death related to COVID restrictions, this time of a 55-year-old woman in a sealed building. An investigation report released Sunday in Hohhot, the capital of China’s Inner Mongolia region, blamed property management and community staff for not acting quickly enough to prevent the death of the woman after being told she had suicidal tendencies.

    • The U.S. flu season is off to an unusually fast start, contributing to an autumn mix of viruses that have patients filling hospitals’ and physicians’ waiting rooms, the AP reported separately. Reports of flu are already high in 17 states, and the hospitalization rate hasn’t been this high this early since the 2009 swine flu pandemic, according to the Centers for Disease Control and Prevention. So far, there have been an estimated 730 flu deaths, including at least two children. The winter flu season usually ramps up in December or January.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 632.6 million on Monday, while the death toll rose above 6.60 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.7 million cases and 1,072,598 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.3 million people living in the U.S., equal to 68.5% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 26.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 8.4% of the overall population.

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  • Pfizer-BioNTech bivalent booster shows higher immune response, but new COVID cases climb back above 40,000 a day

    Pfizer-BioNTech bivalent booster shows higher immune response, but new COVID cases climb back above 40,000 a day

    First the good news: Pfizer Inc. and Germany-based partner BioNTech SE said updated trial data for their omicron BA.4/BA.5-adapted bivalent booster showed a “substantially higher” immune response in adults than the original COVID-19 vaccine.

    The companies said the Phase 2/3 clinical-trial data, collected one month after the boosters were given, also demonstrated that safety and tolerability profiles were similar to those of the original vaccine.

    The news sent Pfizer’s stock
    PFE,
    +0.51%

    rallying 1.7% and BioNTech’s U.S.-listed shares
    BNTX,
    +4.97%

    22UA,
    +4.11%

    surging 7.2% in morning trading.

    “As we head into the holiday season, we hope these updated data will encourage people to seek out a COVID-19 bivalent booster as soon as they are eligible in order to maintain high levels of protection against the widely circulating Omicron BA.4 and BA.5 sublineages,” said Pfizer Chief Executive Albert Bourla.

    Only 8.4% of eligible Americans have received updated COVID booster shots, while 68.5% of the total population have completed the original primary series of vaccinations, according to the latest data from the Centers for Disease Control and Prevention.

    The bivalent booster has been authorized for emergency use in the U.S. by the Food and Drug Administration for people age 5 and older and has also been granted marketing authorization in the European Union for those age 12 and older.

    In another piece of good news, Pfizer and BioNTech shares were also lifted by a report in The Wall Street Journal that the Chinese government has agreed to approve the companies’ COVID-19 vaccines for foreign residents in China and has also held talks to approve those vaccines for the broader population.

    Meanwhile, Bloomberg reported that China was working on a plan to end the practice of penalizing airlines that bring COVID-infected people into the country.

    Both reports boost hopes that China is slowly moving toward ending its zero-COVID policy, which has crimped China’s economy and acted as a drag on global growth.

    Now for the bad news.

    The seven-day average of new COVID cases topped 40,000 for the first time in a month and hospitalizations have also ticked higher, with more than half of U.S. states showing increases over the past two weeks.

    According to a New York Times tracker, the daily average of new cases rose to 40,101 on Thursday from 38,208 on Wednesday, and was up 6% from 14 days ago.


    The New York Times

    Nevada has seen a 96% jump in daily cases, followed by Tennessee with a 69% increase and Louisiana with a 68% rise, leading the 28 states that saw cases increase over the past two weeks.

    Still, daily cases were less than one-third of the summer high of more than 130,000 reached during the surge of the BA.5 variant, the data show.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    The daily average of COVID-related hospitalizations rose 2% to 27,252, while the number of people with COVID in intensive-care units (ICUs) fell 2% to 3,110.

    The daily average of COVID-related deaths fell 6% to a four-month low of 339.

    On a global basis, the total number of COVID cases has increased to 631.91 million, while deaths have reached 6,598,197, according to data provided by Johns Hopkins University. The U.S. has seen a total of 97.69 million cases and 1,072,245 deaths.

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  • Weekly tally of COVID cases and deaths continues to fall; Moderna lowers vaccine-sales outlook by as much as $3 billion

    Weekly tally of COVID cases and deaths continues to fall; Moderna lowers vaccine-sales outlook by as much as $3 billion

    The global tally of COVID-19 cases fell 17% in the week through Oct. 30 from the previous week, while the death toll fell 5%, the World Health Organization said in its weekly update on the virus.

    The omicron variant BA.5 remained dominant globally, accounting for 74.9% of cases sent to a central database. WHO reiterated that newer sublineages of omicron, including BQ.1 and XBB, still appear no more lethal than earlier ones and do not warrant the designation of “variant of concern.”

    But BQ.1 rose in prevalence to 9.0% globally from 5.7% a week ago, while XBB rose to 1.5% from 1.0%.

    “WHO will continue to closely monitor the XBB and BQ.1 lineages as part of omicron and requests countries to continue to be vigilant, to monitor and report sequences, as well as to conduct independent and comparative
    analyses of the different omicron sublineages,” the agency wrote.

    WHO has cautioned that changes in testing and reduced surveillance of the virus are making some of the numbers unreliable and has urged leaders to renew efforts to monitor and track developments.

    In the U.S., known cases of COVID remain at their lowest level since mid-April, although the true tally is likely higher given how many people overall are testing at home, where data are not being collected.

    The daily average for new cases stood at 39,090 on Wednesday, according to a New York Times tracker, up 3% versus two weeks ago. The daily average for hospitalizations was up 2% to 27,161, while the daily average for deaths was down 6% to 345. 

    But cases are climbing in some states, raising concerns among health experts. In Nevada, cases are up 92% from two weeks ago, followed by Missouri, where they are up 75%, Tennessee, where they are up 69%, Louisiana, where they are up 68%, and New Mexico, where they have climbed 54%.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the coming winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • COVID vaccine maker Moderna
    MRNA,
    -2.21%

    posted far weaker-than-expected third-quarter earnings on Thursday and lowered full-year sales guidance by up to $3 billion. The Cambridge, Mass.-based biotech firm said advance purchase agreements, or APAs, for delivery this year are now expected to total $18 billion to $19 billion of product sales, down from guidance of $21 billion that it provided when it reported second-quarter earnings. The FactSet consensus is for full-year sales of $21.3 billion. For fiscal 2023, Moderna has APAs of $4.5 billion to $5.5 billion. The FactSet consensus for 2023 sales is for $9.4 billion.

    • Virax Biolabs Group Ltd.
    VRAX,
    +36.26%

    stock jumped after the biotechnology company said its triple-virus antigen rapid test kit, which tests for RSV, influenza and COVID, has been launched in the European Union, Dow Jones Newswires reported. The test kit, which can be used in both at-home and point-of-care settings, has also been launched in other markets that accept the CE mark, Virax Biolabs said.

    Testing sewage to track viruses has drawn renewed interest after recent outbreaks of diseases like monkeypox and polio. WSJ visited a wastewater facility to find out how the testing works and what it can tell us about public health. Photo illustration: Ryan Trefes

    • Royal Caribbean Group
    RCL,
    +4.11%

    posted its first quarterly profit since the start of the pandemic, but the cruise-line company said it expected a loss for the current quarter, sending its stock lower on Thursday. Load factors were 96% overall and booking volumes were “significantly higher” than in the same period of prepandemic 2019, as the easing of testing and vaccination protocols provided a boost. For the fourth quarter, the company expects adjusted per-share losses of $1.30 to $1.50, compared with the FactSet loss consensus of 71 cents, and projects revenue of “approximately” $2.6 billion, below the FactSet consensus of $2.7 billion. 

    • The death of a 3-year-old boy in northwestern China following a suspected gas leak at a locked-down residential compound has triggered a fresh wave of outrage at the country’s stringent zero-COVID policy, CNN reported. The boy’s father said in a social media post on Wednesday that COVID workers tried to prevent him from leaving their compound in Lanzhou, the capital of Gansu province, to seek treatment for his child, resulting in what he believes was a fatal delay. The post was met with an outpouring of public anger and grief, with several related hashtags racking up hundreds of millions of views over the following day on Weibo, China’s Twitter-like platform.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 631.4 million on Thursday, while the death toll rose above 6.59 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.6 million cases and 1,071,582 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 226.9 million people living in the U.S., equal to 68.4% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 22.8 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 7.3% of the overall population.

     

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