Business in chaos: China puts millions back under yet another lockdown

Against the background of the increasingly weak Covid-19 virus, China has once again placed millions of its citizens under a massive lockdown, the world agencies report. Local authorities claim that new outbreaks of the coronavirus have been discovered as the reason for the lockdowns.

The government continues to maintain its strict policy to contain the virus, despite its weakening

The new measures have affected about half of the 6 million residents of the port city of Dalian, along with an undisclosed number in Chengdu and Shijiazhuang in Hebei province – both municipalities about three hours from the capital, Beijing.

Over 20,000 bankers and traders sleep in their offices on Shanghai’s “Chinese Wall Street”

Against the background of another lockdown in the country due to Covid-19

Beijing’s restrictions are necessary because of China’s stubborn “zero Covid” policy, which stands in stark contrast to most countries’ efforts to co-exist with the virus by gradually easing restrictions and vaccinations, health experts say.

Business in chaos?

China has largely kept its borders closed to foreign visitors, while requiring those who do come to undergo more than a week of quarantine in hotels where sanitation is often poor. Both tourists and business representatives – Chinese and foreign – are affected by the measures.

Losses in recent months have been in the billions of dollars and will only grow further, fear business representatives who, in addition to battling the global crisis, supply chain problems and inflation, never know when they will be “shut down” indefinitely from time.

“Avalanche” of negative effects for the world economy – because of the new lockdowns in China

What will be the consequences of supply chain disruptions?

Economic measures

“Averting the risk of economic stagnation should be a priority,” says a new report titled “It’s time for China to adjust its virus control and prevention policies,” cited by the American CBS.

In previous lockdowns, tens of millions were confined to their homes, sometimes for weeks. A strict lockdown in the largest city and commercial center Shanghai earlier this year led to protests, shortages of food and medical services and huge financial losses.

According to the latest information from China’s health authorities, most new cases of Covid-19 in the country are asymptomatic.

Most factories in Shanghai have finally resumed operations. The question is for how long

Most factories in Shanghai have finally resumed operations. The question is for how long

Over 90 percent of businesses in the metropolis are open again

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