China's Zero COVID Policy, Strains Second Largest Economy.
China is currently facing the worst outbreak of COVID since the pandemic began.
Reports have surfaced in recent weeks
of the strain the severe lockdown measures have
placed upon the citizens of China. .
But they have also exacted a high price on China's economy, the second largest economy in the world.
Economists say that the toll on China's economy has reverberations throughout the world.
Talking about the impact of the pandemic outlook on Shanghai and Shenzhen, we cannot forget that they are important parts of the entire supply chain ... , Yao Jingyuan, Former Chief Economist National Bureau of Statistics, via 'The New York Times'.
... and it will have certainly have an effect on the whole circle of the entire Chinese economy, Yao Jingyuan, Former Chief Economist National Bureau of Statistics, via 'The New York Times'.
Shanghai, in particular, plays an important role in the auto supply chain.
Shanghai is a hub for international car companies — if the hub fails, the whole system won’t work, Cui Dongshu, China Passenger Car Association, via 'The New York Times'.
Local economies in China face devastating consequences from the shutdowns, but factory managers outwardly support the measures.
Zhangjiagang is under huge pressure. I worry about losses, but there is no other way, Yang Degang, Zhangjiagang Factory Manager, via 'The New York Times'.
Truck drivers in China, however, have begun to acknowledge the strain of the nation's lockdowns.
We can’t get off the highway, every exit is guarded. We just want to go home. I couldn’t get enough food the other day, and my body can’t take it anymore, Yu Yao, Truck Driver, via 'The New York Times'.
In the United States, distributors have shifted their operations from China to other countries. .
Reliability has made me move, and the comfort of customers not wanting to order from China, Jake Phipps, American Importer and Distributor, via 'The New York Times'