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China’s Lockdowns Spell DISASTER For The Global Economy

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The global economy is feeling the strain brought on by China’s zero-tolerance policy on new Covid outbreaks happening across the country. Currently, around 400 million people across 45 different cities representing about 40% of China’s GDP are under full or partial lockdown orders, leading to shortages in necessary goods like food and medicine inside and outside of the country. Ana Kasparian discusses on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://www.cnn.com/2022/04/17/economy/stocks-week-ahead/index.html

"Nearly 400 million people across 45 cities in China are under full or partial lockdown as part of China’s strict zero-Covid policy. Together they represent 40%, or $7.2 trillion, of annual gross domestic product for the world’s second-largest economy, according to data from Nomura Holdings.

Analysts are ringing warning bells, but say investors aren’t properly assessing how serious the global economic fallout might be from these prolonged isolation orders.

“Global markets may still underestimate the impact, because much attention remains focused on the Russian-Ukraine conflict and US Federal Reserve rate hikes,” Lu Ting, Nomura’s chief China economist and colleagues wrote in a note last week.

Most alarming is the indefinite lockdown in Shanghai, a city of 25 million and one of China’s premiere manufacturing and export hubs.

The quarantines there have led to food shortages, inability to access medical care, and even reported pet killings.

They’ve also left the largest port in the world understaffed."

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220420__TA01China
Category
Europe
Tags
220420__TA01China, News, Politics
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