The Epoch Times
Commentary
Beijing’s ongoing “zero-COVID” campaign is slowing both the Chinese and global economies, causing supply chain disruptions felt around the world. The harsh pandemic measures are also damaging U.S. companies in China.
“Conditions in China are such that we have virtually no ability to predict our performance in China in the back half of the year,” said Starbucks interim CEO Howard Schultz on May 4, as reported by CNBC.
The lockdown measures in Shanghai and other commercial cities have shut down factories used by Nike, Tesla, and many other American brands. Even factories that remained open had difficulty receiving parts and materials shipments.
