Initially led by the people of Xinjiang, the revolt spread like wildfire to other regions, then to students and finally to the middle class. If, initially, the protest was against the zero covid policy that has worn down the Chinese people, it has turned into a real manifesto for freedom, directed against the all-powerful leader Xi Jinping. The protests are causing turmoil across the Communist party and, by extension, the world markets.

Backed into a corner, Chinese authorities have decided to relax some of the restrictions. Some people infected by the virus will be able to isolate themselves at home, while the use of vaccination seems to be increasing.

Drawing by Amandine Victor for MarketScreener