Shanghai COVID-19 Outbreak Threatens Supply Chain
The ongoing COVID-19 outbreak in Shanghai, China, could cause further supply chain struggles, according to a recent report from The Guardian.
The outbreak is the country’s worst since the onset of the pandemic in 2020 and has led to a lockdown of Shanghai’s 26 million residents, the report said, and there are increasing signs that China’s economy is slowing sharply because of the lockdowns.
Activity in both China’s services and manufacturing sectors contracted last week, and economists are warning that there could be worse to come as the Shanghai lockdown begins to affect the figures for the coming months.
Click here to read the full story from The Guardian.