China locking down
Covid-19 lockdowns in key Chinese manufacturing and shipping hubs are raising alarms over a potential new wave of supply-chain disruptions. China locked down the cities of Shenzhen and Changchun in recent days, the WSJ’s Yang Jie and Yoko Kubota report, and companies including Apple supplier Foxconn Technology Group, Volkswagen and Toyota have suspended factory operations. More than 40 Taiwan-based makers of semiconductors and other electronic components said they were suspending work in Shenzhen and nearby Dongguan. Logistics operators are warning of potential delays over the lockdowns in Shenzhen, a key export hub with the world’s fourth-largest container port. Vessels are moving and delays may amount to only a few days if the city opens up again by the weekend. China’s case numbers are tiny by global standards, but the country has adopted a zero-Covid policy that has resulted in several lockdowns that have led to production snags for exporters.
- Hundreds of passenger flights were canceled at Shanghai’s airports because of Covid restrictioms. (South China Morning Post)