As Shenzhen and Shanghai, two of China’s largest cities and major ports, impose lockdown measures to curb recent COVID spikes, financial experts express concern that it will aggravate global supply chains and inflationary pressures. Shenzhen’s 17.5 million residents were placed under a citywide lockdown from March 14 to 20. One week after Shenzhen emerged from the closure, Shanghai officials imposed a lockdown on the city’s 26 million plus residents on March 28 with little notice. In an interview with The Epoch Times on March 30, Zhang Jinglun, a financial expert living in North America, said that Shenzhen and Shanghai are both important port cities in China, and their successive closures will inevitably disrupt local production and logistics, as well as worsen the global supply chain crisis. In June last year, Shenzhen’s Yantian Port was blocked for nearly a month due to the pandemic, resulting in a backlog of tens of …
Lockdown of Shanghai and Shenzhen Exacerbates Supply Chain Crisis and Inflationary Pressure
April 7, 2022
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