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China's Sinovac vaccine provides no protection for Omicron. "Reallocating resources to the direction of vaccination" is futile when your vaccine doesn't work. Due to the strict lockdown policies natural immunity in China is negligible. That means ending the lockdowns will utterly overwhelm the healthcare system and result in millions of deaths. If I were Xi (and I'm not) I'd offer Moderna and Pflizer a trillion dollars in US government bonds for an adequate supply of their vaccines.

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