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China is powering through an epic wave of coronavirus infections, setting the stage for a rebound in consumer and business activity that could prevent the global economy from tumbling into recession.
In recent days, Wall Street analysts at firms such as Goldman Sachs and Capital Economics have upgraded their forecasts of Chinese growth, citing signs that the coronavirus outbreak is peaking sooner than expected.
The pace of China’s reopening, after the lifting of its draconian zero-covid policy last month, will shape the global outlook for growth and inflation. Stock prices for U.S. companies that serve the Chinese market, such as the casino operator Wynn Resorts, would benefit from a smooth rebound, as would American attractions that appeal to Chinese tourists.
Since early December, when the Chinese government abandoned its zealous lockdown strategy, the…
