Economists have issued a major warning that the U.S. could soon be facing “the mother of all” supply chain problems.
In China, the omicron strain of the coronavirus is spreading rapidly, which is leading to lockdowns.
Economists with the major British financial holdings company HSBC, according to Bloomberg News, say this will lead to a huge production disruption in China.
There will very likely be a devastating blow to the already struggling U.S. economy.
The feckless and dementia-ridden Biden administration is very likely unprepared for this looming crisis.
Americans may be soon unable to access basic products that we use every day.
This problem of dependency on China has been highlighted in the past as American stores run out of stock.
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Bloomberg reports that as China pursues its aggressive “Covid-zero” strategy, “scattered infections” of COVID-19 have forced shutdowns of “clothing factories and gas deliveries around one of China’s biggest seaports in Ningbo, disruptions at computer chip manufacturers in the locked-down city of Xi’an, and a second city-wide lockdown in Henan province Tuesday.”
Henan is in the central part of China well away from the coast. However, it is among the country’s centers of electronics production, according to Bloomberg.
Coastal Guangdong Province, another electronics powerhouse, has also had an outbreak of COVID-19, according to Bloomberg.
Manufacturing disruptions in those areas “could impact the supply of iPhones and other smartphones,” Bloomberg noted.
So, the decision to lockdown a city in China will have a ripple effect on the world. And the rulers in Beijing haven’t been shy about locking down city after city.
According to The Associated Press, China’s communist government last week it had locked down Anyang in Henan Province, a city with a population of 5.5 million, “after two cases of the omicron variant were reported.”
Yozhou, a city of 1.1 million in Henan Province, went into lockdown two weeks ago.
The ongoing lockdown of Xi’an, a city of 13 million in Shaanxi Province, also in central China, started three weeks ago, the AP reported.
This development brought the total number of individuals under lockdown in the country to approximately 20 million.