Tag Archives: surge

El Paso prepares to start busing migrants again — and NYC could see surge in arrivals – New York Post

  1. El Paso prepares to start busing migrants again — and NYC could see surge in arrivals New York Post
  2. Cops ‘babysitting’ migrants in Lori Lightfoot’s Chicago as police sound alarm: ‘They have no plan’ Fox News
  3. South Shore residents decry city’s plan to use shuttered school as migrant ‘respite center’ CBS Chicago
  4. Migrants sent to Chicago by Texas Governor Greg Abbott to move into park district fieldhouses, unused South Shore school building WLS-TV
  5. Of buses and race: Mayor Adams is wrong to claim that Texas Gov. Greg Abbott is only sending migrants to cities with Black mayors New York Daily News
  6. View Full Coverage on Google News

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GameStop Shares Surge After It Posts Surprise Profit – The Wall Street Journal

  1. GameStop Shares Surge After It Posts Surprise Profit The Wall Street Journal
  2. GameStop stock soars after retailer posts first quarterly profit in two years CNBC
  3. GameStop stock ‘volatility is still there’ while short positions have eased: Analyst Yahoo Finance
  4. Latest Stock Market News Today: Yellen vows bank support, First Republic stock in focus, Tesla shares jump, Nike and GameStop report quarterly earnings. | March 21, 2023 | Live Updates from Fox Business
  5. GameStop posts first quarterly profit in two years, shares surge CNBC Television
  6. View Full Coverage on Google News

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Paul McCartney’s Decade-Long Creative Surge Post-Beatles To Be Explored In ‘Man On The Run’ From Oscar Winner Morgan Neville – Deadline

  1. Paul McCartney’s Decade-Long Creative Surge Post-Beatles To Be Explored In ‘Man On The Run’ From Oscar Winner Morgan Neville Deadline
  2. Paul McCartney’s Life After Beatles Breakup to Be Focus of New Documentary From Oscar Winner Morgan Neville Hollywood Reporter
  3. McCartney Documentary, ‘Man On the Run,’ on Post-Beatles ’70s Era, Due Best Classic Bands
  4. Paul McCartney documentary ‘Man On The Run’ to explore post-Beatles life NME
  5. Paul McCartney’s post Beatles career profiled in new documentary The Music Universe.
  6. View Full Coverage on Google News

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GM shares surge after record earnings and new stake in lithium company


New York
CNN
 — 

General Motors reported a much stronger than expected fourth-quarter profit, lifting full-year results to record levels for the second straight year.

The largest US automaker also said Tuesday it is buying a $650 million equity stake in Lithium Americas, which will give it access to the raw material needed to build batteries to power 1 million electric vehicles a year in the first phase of production.

For the quarter, GM earned adjusted earnings of $3 billion, or $2.12 a share, up from $1.35 a share a year earlier and far better than forecasts of $1.69 a share from analysts surveyed by Refinitiv. That lifted full-year adjusted income to $11 billion, up from the $10.4 billion it earned in 2021, which had been its previous record.

The company said it expects strong earnings in 2023, though it expects it to slip a bit from the just posted levels, coming in at between $8.7 billion to $10.1 billion. But company CFO Paul Jacobson said its automotive business is expected to remain strong, with much of the decline likely to be at GM Financial. That’s due to the hit it will take from higher interest rates and the sinking value of used cars, as well as the higher interest rates resulting in an accounting hit to pension earnings.

“Actually that [guidance] is a strong statement about where we see things going, stronger than others” he told journalists on a call Tuesday.

Jacobson told journalists that GM does not expect to follow Tesla and Ford in cutting the prices for its electric vehicles.

“I don’t think there’s any surprise there’s increasing competition in the EV space,” he said. “Our customers are saying we’re priced well based on the demand that we’re seeing.”

The company’s investment in Lithium Americas is part of the company’s efforts to lock-up the supply of raw materials it will need to convert from traditional gasoline powered cars to electric vehicles. The Lithium Americas deal will not supply any lithium to the company until 2026, but Jacobson told media that “we’ve already achieved all the lithium we need through 2025.”

GM expects to build 70,000 EVs this year, a small fraction of its overall vehicle output. It sold 5.9 million vehicles in 2022, down about 6% from 2021 due to the shortage of parts needed to build all the vehicles for which there was demand.

“We continue to face some supply chain and logistics issues, but overall, things remain trending in the right direction,” said Jacobson.

But the company expects to be rapidly increasing its EV supply and offerings, with a new battery plant that opened last year, two more under construction and a fourth planned soon. GM has a target to build 400,000 EVs through the middle of 2024, and 1 million annually by 2025.

CEO Mary Barra predicted there will be more deals like the Lithium Americas one to be announced soon.

“We continue to pursue strategic supply agreements and partnerships to further secure our long-term needs,” she told investors.

GM said it will reduce its staff in 2023, part of its effort to cut $2 billion in costs over the next two years. But unlike a number of major companies that have announced layoffs in recent months, company officials stressed GM would not be shrinking through layoffs. Instead the reduction would be handled through attrition.

GM did not disclose how many jobs might be trimmed, with Jacobson saying the company would end this year “slightly lower” in headcount.

GM has 167,000 employees globally, with 124,000 in North America. That includes more than 42,000 members of the United Auto Workers union. Those workers will get profit sharing bonuses of an average of $12,750 for the year, up nearly 25% from the $10,250 they received a year earlier.

Shares of GM

(GM) soared more than 5% in pre-market trading on the results.

This story is developing and will be updated.

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Bitcoin Surge to $180,000 May Be Incoming, Says Analyst Who Called Major Crypto Crash – Here’s When

The crypto strategist who nailed Bitcoin’s May 2021 collapse says BTC is flashing signals that suggest the king crypto is setting up for a massive move to the upside.

Pseudonymous analyst Dave the Wave tells his 134,500 Twitter followers that multiple technical indicators are turning bullish for BTC.

“The real possibility of a large BTC move [manage risk to both sides]:

  • Weekly MACD [moving average convergence/divergence] in same area
  • Histogram as extended
  • Price in the lower band/ buy zone.” 
Source: Dave the Wave/Twitter

Looking at Dave the Wave’s chart, Bitcoin appears to be following its Q2 2019 technical setup, when BTC rallied from around $4,000 to $14,000 in a few months. According to the analyst, the MACD, which is a trend reversal indicator, is currently hovering at the same zone as it did prior to the 2019 BTC surge. The histogram, which measures the convergence or divergence of the moving averages, is also on the up and up, similar to Bitcoin’s Q2 2019 setup.

The crypto strategist says that Bitcoin can explode 676% by 2024 based on his logarithmic growth curve (LGC) model.

“A technical target for BTC of $180,000 late next year…”

Source: Dave the Wave/Twitter

The LGC is the analyst’s attempt to predict Bitcoin’s boom-and-bust cycles amid changing macroeconomic conditions.

According to Dave the Wave, the LGC model is designed for long-term Bitcoin investors.

“BTC charts are for investors – buying in a few tranches over a reasonable period of time…. with price in the ‘buy zone’… may prove to be a good investment going forward.”

At time of writing, Bitcoin is changing hands for $23,171, a fractional increase on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Consolidates After Massive Surge North: Here’s What Might Happen Next

After coming close to tagging the 200-day simple moving average on Friday afternoon, Bitcoin BTC/USD flew through the area later during the 24-hour trading session, following Dogecoin and Ethereum, which Benzinga called out.

After busting up through the bellwether indicator, Bitcoin surged over 9% higher over Friday night and Saturday to top out at $21,321.98 that day, before entering into a period of sideways consolidation.

The general market and crypto sector have been trading in an upward trajectory since in-line CPI data was released by the U.S. Labor Department, which gave traders and investors hope the Federal Reserve may successfully drop inflation without throwing the U.S. into a recession.

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Since Sunday, Bitcoin has been trading mostly sideways between about $20,500 and $21,500 to consolidate the recent surge, which is a positive sign.

The Bitcoin Chart: Bitcoin started trading in an uptrend on Dec. 30 and had since printed a few higher highs and higher lows on the daily chart. The most recent higher low was formed on Jan. 6 at $16,670 and the most recent confirmed higher high was printed on that same day at $17.027.

  • During Sunday’s 24-hour trading session, the crypto printed an inside bar on the daily chart, which leans bullish because Bitcoin was trading higher prior to forming the pattern. On Monday, Bitcoin attempted to break up from the inside bar but couldn’t gain momentum, likely because the crypto needs further consolidation.
  • Consolidation is needed because Bitcoin’s relative strength index (RSI) is measuring at almost 89%. When a stock’s or crypto’s RSI reaches or exceeds the 70% mark, it becomes overbought, which can be a sell signal for technical traders.
  • Bullish traders want to see continued sideways or slightly downwards consolidation so that Bitcoin’s RSI drops down to a more comfortable level and then for big bullish volume to come in and break the crypto up above Saturday’s high-of-day. Bearish traders may choose to scalp the upper range of the sideways pattern or wait for signs that the current bull run has come to an end.
  • Bitcoin has resistance above $21,313.41 and $22,729.40 and support below at $20,545 and $19,915.

Read Next: Bitcoin Surges Above $21K, Ethereum, Dogecoin Rally Intact — Analyst Says This ‘Could Awaken Some Dormant Long-Term Bulls’ 

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‘People aren’t taking this seriously’: experts say US Covid surge is big risk | Coronavirus

In the fourth year of the pandemic, Covid-19 is once again spreading across America and being driven by the recent holidays, fewer precautions and the continuing evolution of Omicron subvariants of the virus.

New sub-variants are causing concern for their increased transmissibility and ability to evade some antibodies, but the same tools continue to curtail the spread of Covid, especially bivalent boosters, masks, ventilation, antivirals and other precautions, experts said.

Yet booster uptake has been “pitiful”, said Neil Sehgal, an assistant professor of health policy and management at the University of Maryland School of Public Health. Antiviral uptake has been low, and few mandates on masking, vaccination and testing have resumed in the face of the winter surge, which is once again putting pressure on health systems.

New Covid hospital admissions are now at the fourth-highest rate of the pandemic, according to the US Centers for Disease Control and Prevention (CDC). Covid hospitalizations declined somewhat after the summer wave, but never dropped to the low levels seen after previous spikes, persisting through the fall and rising again with the winter holidays.

“Hospitals are at maximum capacity,” said Brendan Williams, president and CEO of the New Hampshire Health Care Association, of his region’s current rates. “I’m not sure what the trajectory of this thing’s going to be, but I am worried.”

The majority of Covid hospitalizations are among those 65 and older, although the share for children under four roughly doubled in 2022.

In the past week, Covid deaths rose by 44%, from 2,705 in the week ending 4 January to 3,907 in the week ending 11 January.

This is one of the greatest surges of Covid cases in the entire pandemic, according to wastewater analyses of the virus. It’s much lower than the peak in January 2022, but similar to the summer 2022 surge, which was the second biggest.

And it’s not done yet. “Certainly it does not appear that we are peaking yet,” Sehgal said.

The Omicron subvariants BQ.1.1 and BQ.1 as well as the quickly expanding XBB.1.5 make up the majority of cases, according to CDC estimates. The north-east, where more than 80% of cases are estimated to be from the XBB.1.5 subvariant, has the highest proportion of cases, according to wastewater data.

“With XBB, there’s such a significant transmission advantage that exposure is really risky – it’s riskier now than it’s ever been” in terms of transmissibility, Sehgal said.

Official case counts have been slower to rise, because of the prevalence of at-home tests and because of a general reluctance to test at all, experts say. Of the tests that are reported, however, positivity rates have been very high, with about one in six tests (16%) turning positive.

Despite the high rates of Covid spread, hospitalizations have not yet reached previous peaks seen earlier in the pandemic, probably due to immunity from vaccinations and prior cases, said Stuart Ray, a professor of medicine and infectious diseases at the Johns Hopkins University School of Medicine.

But that protection should not be taken for granted, he said, particularly because immunity wanes.

Nurses administer Covid-19 tests to members of the public at a testing site in Washington DC. Photograph: Michael Reynolds/EPA

“Boosters really do make a difference,” he said. “The severe cases we are seeing are probably at least somewhat avoidable, if folks make sure that they stay updated on vaccination, because that’s still the safest way to gain immunity.”

Boosters, especially the updated bivalent boosters, are highly effective at reducing the risk of severe disease and death. Yet only 15.4% of Americans over the age of five have received the new boosters.

“You’re just fighting a lot of misinformation and also some political missteps when it comes to the vaccines,” Williams said. When Joe Biden declared the pandemic was “over” in September, he said, it probably stalled public enthusiasm for the new booster and spurred further inaction from Congress on more funding to address the pandemic.

“It’s challenging to strike that parallel narrative that you shouldn’t worry about Covid but also go get a shot,” said Sehgal, calling the declaration “another unforced error”.

While vaccines are very important, other precautions also help prevent infection, disease, and death, Sehgal said – particularly important during a surge like this. Yet because of poor messaging from officials, many people may not even realize the US is experiencing a surge and precautions are still necessary, he added.

“I think the majority of people who aren’t masking today, just don’t know that they should.”

Even if the US reaches the point where surges do not cause a corresponding increase in hospitalizations and death, they will still increase the number of people sickened and disabled by long Covid, experts said.

“There’s accumulating data that repeated Covid accumulates risk for short- and long-term complications, including cardiovascular, mental health and other problems,” Ray said. “We will only know in retrospect exactly how big this cost is. But evolving data suggests that there is a cost that’s incremental as we accumulate infections.”

Williams is worried that hospitals are reaching maximum capacity even as long-term care facilities see outbreaks among residents and staff, after years of worker shortages.

“In New Hampshire, nursing homes will not admit those that they feel that they cannot staff to care for, which I think is admirable, but the consequence of that is that the hospitals are jammed up,” he said. Hospitals that might release patients to care facilities for transitional or long-term care will see beds filled for longer, putting even more pressure on the hospitals, patients and health workers.

“It’s a continuum, but right now the continuum is broken,” Williams said.

Health workers have experienced three years of burnout, disability and death, and some have needed to exit the workforce. Others have been alarmed by unsafe working conditions and the continued crises caused by the pandemic. Nurses in New York reached a tentative agreement this week after striking for safer working conditions.

Joe Biden received his vaccine booster in public but perhaps undermined the message by declaring the pandemic was ‘over’. Photograph: Jonathan Ernst/Reuters

Nursing homes and residential care facilities have roughly 300,000 fewer workers today than there were in March 2020, Williams said. “It’s hard to see how it’s going to get better,” he said.

In the meantime, Covid continues circulating, with nursing home residents and staff seeing one of the biggest rises in cases of the pandemic.

“The first key to keeping people healthy in a nursing home is to keep people in the community healthy,” Williams said. But “it just doesn’t seem like people are wearing masks and getting boosted – people aren’t taking any of this seriously. We just seemed to declare that when it comes to Covid mortality, we’re number one, and that’s a title that we’re not going to relinquish to any other country.”

Sehgal calls it a “collective forgetting” about how and why we need to protect ourselves and one another. “There are people for whom a mild infection actually isn’t so mild, either because of their underlying health, or because of social factors in their life,” he said. “It’s just a tremendous self-inflicted wound.”

And the more the virus spreads, the more opportunities it has to evolve, potentially picking up mutations that make it easier to overcome immunity.

Yet the same measures that helped curb previous surges still work today. And they don’t just prevent illness and death – they also minimize social disruption, like lost hours at work and school. “Those steps that we can take to protect ourselves and protect other people – they don’t seem onerous in the face of a Covid infection,” Sehgal said.

As Ray put it: “When we could be wearing a mask, why aren’t we?”

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Top Crypto Trader Predicts Parabolic Bitcoin Surge to New All-Time High This Year – Here’s His Target

A popular crypto strategist is predicting a parabolic rally for Bitcoin this year now that BTC has broken a key psychological resistance at $20,000.

Pseudonymous analyst Credible tells his 335,700 Twitter followers that he believes the floor for Bitcoin this bear market is “officially” in.

“$21,500 has been breached on futures exchanges. Spot exchanges have hit just shy of $21,500 but I’ve seen what I need to. It’s ON. [The] bottom is officially in, in my opinion. Watch $18,000s for a pullback (if we get one).” 

Source: Credible/Twitter

According to the top analyst, a move above $21,500 would signal a fresh bull market for BTC that can propel the king crypto to a fresh all-time high in the coming months.

“And here we go… [The] next impulse has either begun or is imminent and BTC dominance is beginning to spike off the teal region as expected. Expecting a mega run in dominance as BTC rallies to a new all-time high over the next six months or so.” 

The crypto strategist also says that Bitcoin’s current market structure appears to be flashing September 2020 vibes, when Bitcoin consolidated around $9,000 before exploding to $60,000.

“It’s happening. Again.” 

Source: Credible/Twitter

Credible highlights that Bitcoin is in the midst of a long-term bull market and that last year’s deep correction is part of a five-wave uptrend. The popular Elliott Wave practitioner thinks that BTC is now on the verge of starting its fifth wave rally en route to a new all-time high at around $150,000.

“Who’s ready for the fifth wave to new all time highs in 2023? BTC.” 

Source: Credible/Twitter

Elliott Wave theory is an advanced technical analysis approach that attempts to predict future price action based on crowd psychology that tends to manifest in waves. The theory states that a bullish asset goes on a five-wave rally where waves one, three and five are marked by strong surges.

At time of writing, Bitcoin is swapping hands for $20,740, suggesting an upside potential of more than 623% for BTC should it hit Credible’s target.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Chinese fret over elderly as WHO warns of holiday COVID surge

  • Two billion trips expected over Lunar New Year
  • Virus spreading from cities to vulnerable villages
  • WHO says China response challenged by lack of data
  • China’s grand reopening marred by Japan, Korea spat

BEIJING, Jan 12 (Reuters) – People in China worried on Thursday about spreading COVID-19 to aged relatives as they planned returns to their home towns for holidays that the World Health Organization warns could inflame a raging outbreak.

The Lunar New Year holiday, which officially starts on Jan. 21, comes after China last month abandoned a strict anti-virus regime of mass lockdowns that prompted widespread frustration and boiled over into historic protests.

That abrupt U-turn unleashed COVID on a population of 1.4 billion which lacks natural immunity, having been shielded from the virus since it first erupted in late 2019, and includes many elderly who are not fully vaccinated.

The outbreak spreading from China’s mega-cities to rural areas with weaker medical resources is overwhelming some hospitals and crematoriums.

With scant official data from China, the WHO on Wednesday said it would be challenging to manage the virus over a holiday period considered the world’s largest annual migration of people.

Other warnings from top Chinese health experts for people to avoid aged relatives during the holidays shot to the most-read item on China’s Twitter-like Weibo on Thursday.

“This is a very pertinent suggestion, return to the home town … or put the health of the elderly first,” wrote one user. Another user said they did not dare visit their grandmother and would leave gifts for her on the doorstep.

“This is almost the New Year and I’m afraid that she will be lonely,” the user wrote.

More than two billion trips are expected across China over the broader Lunar New Year period, which started on Jan. 7 and runs for 40 days, according to the transport ministry. That is double last year’s trips and 70% of those seen in 2019 before the pandemic emerged in the central Chinese city of Wuhan.

“I will stay at home and avoid going to very crowded places,” said Chen, a 27-year-old documentary filmmaker in Beijing who plans to visit her home town in the eastern province of Zhejiang.

Chen said she would disinfect her hands before meeting elderly relatives, such as her grandmother, who has managed to avoid infection.

LACK OF DATA CRITICISED

The WHO and foreign governments have criticised China for not being forthright about the scale and severity of its outbreak, which has led several countries to impose restrictions on Chinese travellers.

China has been reporting five or fewer deaths a day over the past month, numbers that are inconsistent with the long queues seen at funeral homes. The country did not report COVID deaths data on Tuesday and Wednesday.

Liang Wannian, the head of a COVID expert panel under the national health authority, told reporters that deaths could only be accurately counted after the pandemic was over.

Although international health experts have predicted at least a million COVID-related deaths this year, China has reported just over 5,000 since the pandemic began, a fraction of what other countries have reported as they removed restrictions.

Looking beyond the death toll, investors are betting that China’s reopening will reinvigorate a $17 trillion economy suffering its lowest growth in nearly half a century.

That has lifted Asian stocks to a seven-month peak, strengthened China’s yuan currency against the U.S. dollar and bolstered global oil prices on hopes of fresh demand from the world’s top importer.

China’s growth is likely to rebound to 4.9% in 2023, according to a Reuters poll of economists released on Thursday. GDP likely grew just 2.8% in 2022 as lockdowns weighed on activity and confidence, according to the poll, braking sharply from 8.4% growth in 2021.

TRAVEL CHALLENGES

After three years of isolation from the outside world, China on Sunday dropped quarantine mandates for inbound visitors in a move expected to eventually also stimulate outbound travel.

But concerns about China’s outbreak has prompted more than a dozen countries to demand negative COVID test results from people arriving from China.

Among them, South Korea and Japan have also limited flights and require tests on arrival, with passengers showing up as positive being sent to quarantine.

In a deepening spat between the regional rivals, China has in turn stopped issuing short-term visas and suspended transit visa exemptions for South Korean and Japanese nationals.

Despite Beijing’s lifting of travel curbs, outbound flight bookings from China were at only 15% of pre-pandemic levels in the week after the country announced it would reopen its borders, travel data firm ForwardKeys said on Thursday.

Low airline capacity, high air fares, new pre-flight COVID-19 testing requirements by many countries and a backlog of passport and visa applications pose challenges as the industry looks to recovery, ForwardKeys Vice President Insights Olivier Ponti said in a statement.

Hong Kong Airlines on Thursday said it does not expect to return to capacity until mid-2024.

Reporting by Bernard Orr, Liz Lee, Eduardo Baptista and Jing Wang in Beijing; Writing by John Geddie; Editing by Lincoln Feast and Nick Macfie

Our Standards: The Thomson Reuters Trust Principles.

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What China’s Deadly Covid Surge Means For the World in 2023 – Rolling Stone

There’s a new form of SARS-CoV-2, the virus that causes Covid. It’s called XBB.1.5 — and it’s nasty. XBB.1.5, otherwise known as “Kraken,” is more contagious than previous subvariants of the Omicron variant of the virus and also has more potential to evade our antibodies from vaccines and past infection.

All over the world, there’s been a surge in Covid cases related to Kraken. But that’s not what epidemiologists are most worried about as the fourth year of the coronavirus pandemic begins. No, China is what scares the experts. A country that, unlike the rest of the world, is just now catching Covid in a big way for the first time. 

That’s 1.4 billion people who are experiencing what the rest of us went through in early 2020, with just a few twists. And what happens next in China could spill over into the rest of the world in frightening ways. 

So far, based on surveillance of Chinese travelers arriving in Italy, China is catching old forms of Covid. “There are no new variants, but simply the existing circulating strains spreading rapidly in a population with low natural immunity,” says Paul Anantharajah Tambyah, president of the Asia Pacific Society of Clinical Microbiology and Infection in Singapore.

But that could change.  

Yes, Kraken is bad. But it evolved from previous forms of the virus at a time when most of the world — China, of course, is the exception — has pretty robust immunity. Widespread vaccination was critical early on, of course, but what’s really protecting most people now, two years after the first jabs became available, is natural antibodies from past infection. That’s because natural antibodies are more effective and longer-lasting than antibodies from vaccines and boosters. 

For all the debate over shutdowns, masks, vaccines, and therapies, most of the world ended up taking a reasonably smart approach to Covid. Many countries tamped down on businesses, schools, crowds, and travel through 2020, helping to slow the virus’s transmission until vaccines were available at the end of that year.

Then, as more and more people got fully or partially vaccinated — today, most of the world’s eight billion people have had at least one Covid jab, and billions have gotten jabbed and boosted — countries gradually reopened. 

People got back to a version of normal. Yes, that meant more viral spread that ultimately gave us the Omicron variant and its many subvariants, which are still dominant today. But vaccines blunted the worst impacts of these many infections. Case rates went up (and down and up again and down again). But overall, hospitalizations and deaths trended down — a trend that continues today.

And all those infections fueled a beneficial cycle that began with mass-vaccination. We caught Covid and, for the most part, survived — because many millions of us were vaccinated. That rewarded us with natural antibodies that protected us from the worst outcomes the next time we caught Covid, a year or half a year later as the vaccines began to wear off. And that infection seeded the immunity for the next six or nine or 12 months. 

So on or so forth. Epidemiologists expect this cycle to continue unless and until the SARS-CoV-2 virus makes some huge and surprising evolutionary leap that renders all existing antibodies ineffective. 

But the longer the pandemic grinds on, the less likely this nightmare outcome appears to be. With each diminishing wave of infections, Covid starts to look more and more like the flu: a disease we should take seriously, but not one that’s likely to end the world. “Within a few years, Covid-19 will be a background risk along with seasonal influenza,” says Lawrence Gostin, a Georgetown University global-health expert.

Which is not to say Covid, like the flu, isn’t dangerous. Even non-fatal SARS-CoV-2 infections can have major consequences. Long Covid, for one — a mix of long-term symptoms potentially including fatigue, confusion, loss of senses and even cardiac problems. But even taking into account long Covid, the overall risk from the worst outcomes is decreasing in much of the world.

In China, however, things could get a lot worse before they get better. That’s because China locked down in early 2020 — and stayed locked down for nearly three years as part of the country’s “Zero Covid” policy. Only on Dec. 8, following widespread public protests in many major cities, did the ruling Chinese Communist Party finally lift major restrictions in most places. 

“The situation completely changed on Dec. 8,” says Ben Cowling, a professor of epidemiology at The University of Hong Kong. The restrictions had bottled up SARS-CoV-2, preventing transmission and resulting in what was, until a few weeks ago, one of the lowest rates of Covid cases of any country. But the lack of infections also meant a lack of natural antibodies.

People gather at Tian’anmen Square to watch a flag-raising ceremony to celebrate New Year’s Day on Jan. 1, 2023 in Beijing, China.

VCG/Getty Images

Yes, some 90-percent of the Chinese population is at least partially vaccinated. But the hundreds of millions of Chinese seniors, who are most vulnerable to Covid, are also the least likely to be vaccinated — a reluctance experts attribute to misinformation in Chinese media. And most Chinese who are vaccinated got vaccinated more than a year ago. By now, the protection from those early vaccinations has mostly worn off.  

So when restrictions lifted and a billion-plus Chinese finally started going out and traveling, they did so without the protection that the rest of the world earned the hard way, through past infection.

It should come as no surprise that China is getting really sick right now. “Almost everyone in the population is susceptible to infection because there were very few infections prior to December 2022, and very few recent vaccine doses — which can provide temporary protection against infection,” Cowling explains. 

Just how sick is hard to say for sure, as the country’s authoritarian regime has stopped reporting reliable data. “There are fortunately some objective ways of assessing what is happening in China besides depending on China’s lively social media scene, which brought the pandemic to the world’s attention in the first place,” Tambyah says. 

More and more countries are testing travelers arriving from China. Malaysian health authorities are even testing the wastewater in passenger planes flying in from Chinese airports. Projecting from these samples, experts can begin tracking the Chinese outbreak, even without China’s help. “Ideally this would include virus samples for genomic sequencing in order to know whether a new and ominous variant of concern has emerged,” says Peter Hotez, an expert in vaccine development at Baylor College. 

China could be in for a rough 2023 as it catches up to the beneficial cycle of infection and reinfection that protects most of the rest of the world and makes the pandemic “normal” for many of us. A lot of Chinese people — potentially a majority of the population, according to Cowling — will have to catch the virus, and survive it, before China achieves its own new normal. Most of them will do it with minimal immunity. 

Consider that it cost the United States — a country with a billion fewer people than China — more than a million Covid deaths to build up the significant natural immunity it has today. “It’s a grim and tragic statistic,” says Eric Bortz, a University of Alaska-Anchorage virologist and public-health expert. “China is looking down that barrel right now.”

The risk, for the rest of the world, is that millions upon millions of serious Covid infections in China could function as a kind of incubator for new and more dangerous forms of the novel-coronavirus. 

Every infection is an opportunity for the pathogen to mutate. It’s like a slot machine, says Niema Moshiri, a geneticist at the University of California, San Diego. Each individual infection tends to produce two mutations every two weeks, Moshiri explains. In other words, the virus gets two pulls of the lever twice a month, hoping to score a genetic jackpot that will give it some new advantage. Greater transmissibility. More ability to evade antibodies.

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“What if we had 50 million people pull slot-machine levers simultaneously at the same time?” Moshiri asks. “We would expect at least one person would hit the jackpot pretty quickly. Now, replace the slot machine with ‘clinically meaningful SARS-CoV-2 mutation,’ and that’s the situation we’re in.”

It’s fair to say that, even with the new Kraken subvariant rearing its nasty little head, most of the world has Covid more or less under control. But China doesn’t. And some new variant evolving from the Chinese outbreak could spoil 2023 for everyone else. 



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