China has decided lockdowns are still the way to go as most other countries in the world plan to just live with the coronavirus, as has been done with the flu and common cold for decades. But Shanghai has started a new lockdown protocol, in which the city locks down 10 million people at a time to try to “slow the spread” of the coronavirus.
China continues to deploy “snap” lockdowns as it tries to eliminate the transmission of COVID-19 within its borders. Starting Monday, around 11 million residents in the eastern half of Shanghai will be banned from going out for four days as mass testing kicks off. The staggered lockdown will then move to the other half of the city, which has about 14 million residents, beginning Friday, according to a report by CNN Business.
“China should be able to contain the virus in the next few weeks, as lockdown is effective,” said Larry Hu of Macquarie Capital. “But Covid does pose substantial growth risk in the rest of this year, as lockdown is very costly,” Hu added. Economists say the continued assistance on lockdowns threatens China’s economic growth, as well as the global supply chain.
Outside China, the mainstream media’s big question is whether manufacturing and shipping will be affected, adding to the strain that’s already on global supply chains and further boosting prices. Shanghai’s main ports are operating normally, according to state media. And during a lockdown in the southern Chinese city of Shenzhen earlier this month, manufacturers shifted operations to other parts of their network to limit the impact of the temporary rules.
China Resorts To Lockdowns Once Again As Omicron “Rages”
“The impact on manufacturing activities will likely be manageable, especially if such lockdowns are short and sporadic,” economists at Bank of America said in a recent research note.
“The impact on manufacturing activities will likely be manageable, especially if such lockdowns are short and sporadic,” economists at Bank of America said in a recent research note.
With inflation already soaring and shelves emptying quickly at grocery stores across the country, it is important to prepare for the possibility that food will either be unavailable or unaffordable.
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