Some Chinese cities are under a lockdown and the country could pay the price, analysts say.
The number of ships waiting at some Chinese ports has already increased, according to project44 which monitors how freight is moving across the world. "We saw a 28.5% increase in the number of vessels waiting outside of the port of Yantian which is a major export port to Europe and North America," says Adam Compain, senior vice president of project44.
Another example is Foxconn which makes iPhones for Apple. It has tried to shift production to other manufacturing sites while resuming production by asking employees to work in a closed loop system - or bubble - on its campus where people live and work."But for many of those producers, they have to rely on the shipment of other parts, mostly within the same region so it's really hard to move because the transportation within China can also be disrupted.
There are signs that it is enacting longer term costs, making some companies re-think their positions in the Chinese market.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
As Covid Cases Surge in China and Europe, US Defunds Pandemic Response'What we're asking for is a modest investment to not squander the gains we've made over the last year. We need to remember the dark days and how quickly a variant can come.'
Lire la suite »
New Covid Wave in China Hits Sellers of ‘Quarantine Insurance’Chinese insurers last year began offering what they called “quarantine insurance”—get locked down, receive a payout. Now, as the Omicron variant spreads rapidly across the country, overwhelmed insurers are pulling the plug on the products.
Lire la suite »
China weighs exit from 'zero COVID' and the risks involvedEven as Chinese authorities lock down cities in the country's worst outbreak in two years, they are looking for an exit from what has been a successful but onerous COVID-19 zero-tolerance prevention strategy.
Lire la suite »
EXCLUSIVE Tesla halts work at Shanghai factory for two days amid China COVID curbs - noticeElectric vehicle giant Tesla is suspending production at its Shanghai factory for two days, according to a notice sent internally and to suppliers, as China tightens COVID restrictions to curb the country's latest outbreak.
Lire la suite »
‘The Batman’ Flies to Slow Start at China Box Office as COVID Returns“The Batman” flew to a worryingly slow start on Friday at the mainland China box office, where Hollywood films have struggled of late and where the latest coronavirus surge is threatening films of …
Lire la suite »