The Chinese government plans to ease social distancing restrictions in major cities next month. And it can't come soon enough, with the lockdowns, including in major cities like Shanghai, causing a major economic slump. Government data show the world's second largest economy is on track for a contraction in the second quarter, as it deals with its worst COVID-19 wave since the beginning of the pandemic.

For more on the Chinese economy, we were joined by Guido Cozzi, who is macroeconomics professor at the University of St. Gallen.

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