How China’s strict Covid policies led to supply chain bottlenecks
At the onset of the Covid-19 pandemic, China’s strict “zero-Covid” policies managed to keep Covid-19 at bay. More than two years later, the country’s ongoing controls are still weighing down its economy and stalling global supply chains. “Zero-Covid has become one of the select drivers of global recession,” Steve Morrison, senior vice president at the Center for Strategic and International Studies, told CNBC in an interview. Major trade hubs such as Shanghai and Beijing, after responding to waves of omicron-driven infections, require workers to have negative Covid tests to enter public spaces. The demanding quarantine and testing rules have thwarted truckers on roads as well, driving up the amount of time it takes for goods to get to Chinese portsContinue Reading