OECD Secretary-General Mathias Cormann told CNBC on Monday in an interview that China's decision to reopen and ease its COVID-19 measures is "overwhelmingly positive," as it will assist the world in tackling the raging inflation.
"One of the drivers of inflation was very much the supply shock related to global supply not being able to keep up with global demand. And so, China coming back into the global market in earnest and supply chains functioning more efficiently will help bring inflation down," Cormann stressed.
He underscored that although in short term, there might be some challenges, as "we’re seeing heightened levels of infection," in the medium to long term this will lead to a "more positive" resumption of "demand in China and indeed trade more generally."
