Posted on 04/14/2022 5:49:30 PM PDT by EBH
Many goods are stuck in China at the moment and a “big problem looms” for the global economy, says IMA Asia’s Richard Martin.
In the last few weeks, China has been battling its most severe Covid outbreak on the mainland since the initial shock of the pandemic in early 2020.
Many goods are stuck in China right now as a result of the Covid lockdowns and it could become a “big problem” for the global economy, according to business consultant Richard Martin.
“Many of the things that we use around the world that’re manufactured, have components from China and we’re about to see a logistics snarl that’ll dwarf anything in 2020 or 2021,” Martin, managing director at IMA Asia, told CNBC’s “Street Signs Asia” on Tuesday.
“China is 20% of global demand but its role in supply chains is much bigger than that.”
(Excerpt) Read more at cnbc.com ...
Nearly 400 million people are estimated to be under some form of lockdown in China as officials try to stop a fast-moving Omicron outbreak.
The response is beginning to have an impact on China's economy and the world’s global supply chain. https://t.co/oWAzF2pvad— New York Times World (@nytimesworld) April 14, 2022
‘That is nearly 28.5% of their total population?’
are any of them actually sick...?
Maybe we should wean ourselves off of China’s cheap stuff.
As much as I fear inflation, it’s a price I would pay if it meant an end to CCCP crap flooding in and America making our own stuff again.
Lets hear the free traders tell us once again how wonderful international ‘competitive advantage’, globalism and unrestricted free trade are.
It doesn’t matter if they are sick or not. The supply chain is about to get hammered again because of CHINA’S zero-covid policy. It almost ...almost seems intentional, see the last line of the quote.
From the CNBC article:
““The problem Beijing has got is right across the country — not just Shanghai but down in the south in Guangzhou and of course, up in Jilin where there’s been a lot of manufacturing,” Martin said.
Local officials are “closing down entire cities” due to fear of punishment from Beijing if there’s a Covid outbreak in their jurisdictions, he added.”
Well, yes there is that. But much of our manufacturing left due to taxes and union wages. Biden is going to raise rates again.
I have been making the point that all of these recent lockdowns are mainly to cause more supply chain issues.
Its true our own government is the worst enemy of real fair trade, driving much manufacturing overseas.
And we consumers did get cheap trinkets from Chinese slave labor as a consequence, but the big winners are grifting bureaucrats and politicians.
Now foreigners have us by the ‘nads. We’ll soon know whether it was all worth it.
When one considers less than 6 months ago the Chinese government was telling their people to stockpile a years worth of food,
it does cause one to go hmmmm?
“China’s lockdowns could trigger a logistics snarl that may ‘dwarf’ 2020 and 2021”
Gee, CNBC, YA THINK??? /s
Stop buying crap made in China and you don’t have to worry about it.
How do you even know those numbers are reliable?
Well...if China has a billion or so people, (look it up) and the Times says 400 million are on some sort of lockdown, and the CNBC report explains all the cities affected...
yeah, that number is about right.
I have seen reports that 90% of "cases" are asymptomatic. Remember, China will seal off a city block or apartment complex. They will then require EVERYONE in that area to be tested immediately at nearby mobile testing centers. Positive cases are taken away to quarantine centers. I saw one story about a family with an autistic child. The child was positive, and the parents tested negative. The child was taken away - without the parents. Its amazingly brutal.
Even Chinese citizens, who are mostly docile sheep, are getting angry at the tyranny of it all.
Where was your computer made ?
Texas, it’s really really old.
“stuck”
on stupid.
Stop buying crap made in China and you don’t have to worry about it.
**********
Correct if you have a large bank and large income.
Otherwise you’ll have slim pickens. And I don’t
mean the actor and rodeo performer.
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