China has imposed partial lockdowns in Shanghai and Shenzhen as it grapples with a surge in COVID-19 cases, raising concerns of new global supply chain disruptions and threatening the country’s economic growth target.
Economists warned of massive disruptions for manufacturers due to port, airport and factory closures as the country’s richest regions go into lockdowns.
Most big businesses and industrial parks in Shanzhen were locked down as the government launched a testing program across the city of 17.5 million residents.
Shanghai, China’s main financial hub and home to thousands of Australian expatriates, residents were advised on the weekend not to leave. The city, China’s largest with almost 25 million people, is virtually cut off from the rest of the country with long-distance buses suspended. Schools have been closed, with classes moving online, and many white-collar employees working from home on Monday.
Hong Kong has about 30,000 cases per day and China has about 3000 cases per day. China still has a zero tolerance COVID policy which triggers large lockdowns.
Many of China’s elderly are vaccinated with locally produced vaccines, but they do not have access to more effective mRNA vaccines. Experts have warned that this would result in high death rates if there was a major outbreak.
Shenzhen goes into a lockdown for 1 week as all non-essential companies ordered to work from home, #China gov criticizes Shanghai for not following zero-covid & other epidemic policies, outbreaks currently recorded in 19 admin units.
— Moneyball (@DKurac) March 14, 2022
SOURCES: Australian financial Review
Written by Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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