{"id":62212,"date":"2022-03-16T07:05:03","date_gmt":"2022-03-16T12:05:03","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62212"},"modified":"2022-03-16T07:05:03","modified_gmt":"2022-03-16T12:05:03","slug":"world-economy-braces-for-supply-chain-chaos-as-covid-closes-china","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62212","title":{"rendered":"World Economy Braces For Supply Chain Chaos As COVID Closes China\u00a0\u00a0"},"content":{"rendered":"<header class=\"ArticleFull_header__Eyn7V\">\n<h3 class=\"ArticleFull_title__MEgbb\"><a href=\"https:\/\/www.zerohedge.com\/markets\/world-economy-braces-supply-chain-chaos-covid-closes-china\">World Economy Braces For Supply Chain Chaos As COVID Closes China\u00a0\u00a0<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p>The global economy is in disarray as the war in Ukraine unleashed a commodity shock with increasing risks of\u00a0<a href=\"https:\/\/www.zerohedge.com\/markets\/bond-market-screaming-stagflation\">stagflation<\/a>. Adding to the turmoil is an outbreak of COVID-19 in China that may unleash another supply chain crisis.<\/p>\n<p>News from China over the last day shows a new outbreak of the highly contagious omicron variant has infected more than 5,000 people, the most since the early days of the pandemic in early 2020. China&#8217;s zero-tolerance approach has shuttered factories and placed\u00a0<a href=\"https:\/\/www.zerohedge.com\/covid-19\/china-orders-51-million-lockdown-covid-numbers-spike\">some 51 million people into some form of lockdown<\/a>.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2022-03-15_12-35-29.png?itok=iPNRINE5\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2022-03-15_12-35-29.png?itok=iPNRINE5\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2022-03-15_12-35-29.png?itok=iPNRINE5\" alt=\"\" width=\"500\" height=\"373\" data-entity-type=\"file\" data-entity-uuid=\"bc970fb2-1e31-4ea4-a3df-9bfb8a7fe291\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<div class=\"AdvertisingSlot_desktop__lDlm4 AdvertisingSlot_tablet__MndqJ AdvertisingSlot_mobile__7vsEF AdvertisingSlot_placement__b8TLC AdvertisingSlot_align__800B1\">\n<aside id=\"in-content-video\" class=\"AdvertisingSlot_verticallySpaced__MBqFK\" data-google-query-id=\"COSQx5TLyvYCFQ0EoQodG_4DGA\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\"><iframe id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0\" tabindex=\"0\" title=\"3rd party ad content\" role=\"region\" name=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0\" width=\"1\" height=\"1\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" sandbox=\"allow-forms allow-pointer-lock allow-popups allow-popups-to-escape-sandbox allow-same-origin allow-scripts allow-top-navigation-by-user-activation allow-presentation\" aria-label=\"Advertisement\" data-google-container-id=\"5\" data-load-complete=\"true\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<div class=\"ac-widget-placeholder ac-reset\" data-loaded-pid=\"zerohedgecom\" data-loaded-wid=\"0011r00002RYAhn_1419\">\n<div id=\"ac-lre-player-ph-ext-LNBT7LUpWvUyY6XOWqiwnZ7rXisjyKFt\" class=\"ac-lre-player-ph-ext ac-lre-ph-playlist-hide-scroll-bar no-back-image\">\n<div id=\"ac-lre-player-ph-LNBT7LUpWvUyY6XOWqiwnZ7rXisjyKFt\" class=\"ac-lre-player-ph ac-lre-desktop\">\n<div class=\"ac-lre-wrapper luminous-theme\">\n<div class=\"ac-player-ph\">\n<div class=\"ac-player-wrapper\">\n<div class=\"ac-lre-player\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<p>As of Tuesday, omicron variant infections have been reported in 21 provinces and municipalities nationwide, including the capital of Beijing. According to\u00a0<a href=\"https:\/\/www.cnn.com\/2022\/03\/15\/china\/china-covid-outbreak-explainer-intl-hnk\/index.html\">CNN<\/a>, five cities are in lockdown, including Changchun, Jilin, Shenzhen, Dongguan, and Langfang.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2022-03-15_12-13-59.png?itok=E5f45mYq\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2022-03-15_12-13-59.png?itok=E5f45mYq\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/2022-03-15_12-13-59.png?itok=E5f45mYq\" alt=\"\" width=\"500\" height=\"475\" data-entity-type=\"file\" data-entity-uuid=\"05c244a2-c415-4bca-ae7d-e5ec6528f422\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>Lockdowns have forced factories to idle production and risk snarling\u00a0<a href=\"https:\/\/www.zerohedge.com\/technology\/foxconn-halts-iphone-production-factories-shenzhen-due-lockdown\">production from Apple iPhones<\/a>\u00a0to Amazon Echo &amp; Alexa devices to Toyota SUVs to smart television to all sorts of other electronic devices. Disruptions to exports may induce shortages and drive up inflation, just as the Federal Reserve embarks on hiking interest rates to control inflation at\u00a0<a href=\"https:\/\/www.zerohedge.com\/economics\/us-consumer-prices-are-rising-their-fastest-pace-over-40-years\">four-decade highs<\/a>.<\/p>\n<p>A Bank of America Corp. survey of fund managers published on Tuesday showed confidence in global growth this year is the lowest since July 2008, and stagflation expectations have jumped to a whopping 62% of respondents.<\/p>\n<blockquote><p><em>&#8220;You take all these little paper cuts and you start to add them up and you could be looking at a potential significant slowing of the global economy,&#8221; said Jay Bryson, chief economist at Wells Fargo &amp; Co.<\/em><\/p><\/blockquote>\n<p>China&#8217;s zero-tolerance policy has reminded us that supply chains are still subjected to massive disruptions. The lockdowns couldn&#8217;t come at a worse time, as spring tends to be one of the busiest shipping seasons of the year.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>World Economy Braces For Supply Chain Chaos As COVID Closes China\u00a0\u00a0 The global economy is in disarray as the war in Ukraine unleashed a commodity shock with increasing risks of\u00a0stagflation. Adding to the turmoil is an outbreak of COVID-19 in China that may unleash another supply chain crisis. News from China over the last day [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,32767,29341,694,3237,821,862,4318],"class_list":["post-62212","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-commodity-shock","tag-covid","tag-russia","tag-supply-chains","tag-ukraine","tag-war","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62212"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62212\/revisions"}],"predecessor-version":[{"id":62213,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62212\/revisions\/62213"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}