https://edition.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."
Via Doug Senko.
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
