Lockdown in Chinese manufacturing hubs Shenzhen and Changchun threatens to worsen inflation in the U.S. and to disrupt global supply chains.
The U.S. …
Lockdown in Chinese manufacturing hubs Shenzhen and Changchun threatens to worsen inflation in the U.S. and to disrupt global supply chains. The U.S. imported nearly $48 billion of goods from China in January, the latest month for which data is available. Last year, imports of Chinese goods totaled $506 billion, the second-highest level of imports from China on record. The Chinese government has placed the city of Shenzhen on lockdown for at least a week and ordered everyone in the city to undergo three rounds of covid tests. The lockdown has halted many manufacturing operations in Shenzhen, including those of Foxconn, a crucial assembler of Apple’s iPhones.
