QUOTE(ozak @ Mar 14 2022, 12:28 PM)
More bad news for China. China tech stock might be down more.
" China is scrambling to address its most severe Covid-19 outbreak in two years, reporting soaring cases in a fresh wave that has seen the country tweak its zero-Covid policy by allowing rapid antigen tests for public use. After topping 1,000 for two days in a row, new locally transmitted cases surged to more than 3,100, this time driven by a spike in symptomatic infections, the National Health Commission reported on Sunday. It came as 16 provinces reported new coronavirus infections, as did the four megacities of Beijing, Tianjin, Shanghai and Chongqing.
As a result of the latest covid breakout, China’s government has shut down the city of Shenzhen, a city of 17.5 million people known as China's Silicon Valley, and is restricting access to Shanghai by suspending bus services. All businesses except those that supply food, fuel and other necessities were ordered to close or work from home. That includes Foxconn, Apple's Chinese slaves:
FOXCONN SUSPENDS OUTPUT AT CHINA HQ, IPHONE SITE IN SHENZHEN
And since the port of Shenzhen - one of the world's busiest container post is now also locked down, expect a fresh round of cascading chaos in Transpacific supply chains, just in time to join the snarled Transatlantic supply chains as the Ukraine war cripples all global seaborne traffic. "
over-reacting to omnicron wave. Most of the world already move on.. die ma die attitude liao especially amongst westerners. They don't even bother to wear masks or social distance nowadays.
See our Malaysia also chill already start to loosen many rules and allow incoming tourists.
Most important is high vaccination drive.. then the impact won't be so bad. At least lower death rate. Problem is China don't want to import in any MRNA vaccine, but die2 want to create one themselves. Until now haven't successfully create one:
https://www.scmp.com/news/china/science/art...-mrna-shot-amidSo now Covid spreading in their country.. they panic start shutting things down. Likely high hospitalization and death rate creeping in their country. Many of their Covid statistics are not 100% accurate due to gov controlling the news.