It seems that Shanghai is going to remained closed for the foreseeable future. Companies like Tesla and Apple are severely affected.
This is also going to most likely provide some rather poor GDP numbers for that country.
It only further adds to the global economic woes.
Posted Using LeoFinance Beta
It’s a shame…
What is the reason for the shutdown? Is it about covid again? I haven't been paying attention as much to the situation there.
Posted Using LeoFinance Beta
Yes they have a zero COVID tolerance policy.
They are shutting down factories and basically the entire city. Tesla factory is now down about 12 days or something.
Posted Using LeoFinance Beta
Imagine if our nations had practiced "Flu Zero" or "Pneumonia Zero" or "Tuberculosis Zero"; we would all be shut in simply out of habit. Yet life goes on as if none of those respiratory illnesses is a concern.
"Covid Zero" not only doesn't work, but it has been proven not to work. Yet China insists on following that policy anyway (along with a few other nations). Something else must be happening. What that could be, I don't know; it's just a suspicion I have.
Posted Using LeoFinance Beta
The CCP is intent on slowing things down, especially real estate. I dont see the sense of killing manufacturing since they are an exporting nation. Perhaps they truly believe they are going to control it.
Or maybe it is more control. Governments have been known to use lockdowns as a means of control. Nah that would never happen, would it?
Posted Using LeoFinance Beta