CHINA: The ongoing lockdown in Shanghai could disrupt the country’s economy, business leaders warned on Friday, as the central government doubled down on China’s “zero-COVID” strategy.
One of Huawei’s top executives warned about clogged supply chains. “If Shanghai continues being unable to resume work and production, from May, all tech and industrial players involving the Shanghai supply chain will completely shut down, especially the auto industry!” Richard Yu, head of Huawei’s consumer and auto segment
COVID controls have shut down some of China’s largest cities, fueling public irritation, threatening an already weakened economy and prompting warnings of possible global shockwaves.
Shanghai has been at the epicenter of China’s struggle to contain its outbreak, as authorities recently sought to loosen some restrictions to quell residents’ dissatisfaction. But health officials warned this week that despite a slight lowering in infections, Shanghai didn’t have the virus under control.